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.
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Results for Business
Sunday 16 February 2014
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Geneva, Switzerland
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Thursday 13 February 2014
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Nuku'alofa, Tonga
The Tongan Government is offering for sale 40% of its shares in the Tonga Development Bank.
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Wednesday 12 February 2014
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Nuku'alofa, Tonga
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.
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Tuesday 11 February 2014
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Nuku'alofa, Tonga
The Tonga Communications Corporation (TCC) is offering 50% internet connection discount to all primary and secondary schools in Tonga, and to the Vaiola Hospital, effective from 1 January, under a special offer supported by the government and Tonga Cable Ltd.
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Tuesday 4 February 2014
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Nuku'alofa, Tonga
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).
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Tuesday 4 February 2014
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Nuku'alofa, Tonga
Tonga’s third solar farm is being constructed at Vaini on Tongatapu, at a cost of $14 million (USD) under Japanese aid funding. The project will introduce a special micro-grid system to coordinate electricity generated from a variety of renewable sources in the future.
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Friday 31 January 2014
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Nuku'alofa, Tonga
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.
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Wednesday 29 January 2014
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Nuku'alofa, Tonga
A solar power project proposal submitted by Tonga High School has won $100,000 (USD) funding from the Zayed Future Energy Prizes for 2014 presented in Abu Dhabi, UAE, on January 20.
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Thursday 16 January 2014
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Auckland, New Zealand
A New Zealand money transfer company, KlickEx, has discounted its services to Tonga in support of Ha‘apai’s cyclone recovery.
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Wednesday 15 January 2014
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Nuku'alofa, Tonga
Increases in the wholesale and retail prices for Petrol, Kerosene and Diesel in Tonga take effect tomorrow, January 16.
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Tuesday 17 December 2013
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Nuku'alofa, Tonga
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.
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Monday 16 December 2013
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Nuku'alofa, Tonga
A slight rise in fuel retail prices for mid-December 2013 to mid-January 2014, takes effect from today, the Ministry of Commerce, Tourism & Labour has announced.
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Friday 13 December 2013
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Nuku'alofa, Tonga
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.
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Friday 13 December 2013
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Nuku'alofa, Tonga
Three young Tongan entrepreneurs and their mentor won $4,000 investment capital for their creative business venture “Culture Fusion” receiving the top award and the praise of the judges last night in Tonga’s Women in Business Be Your Dream 2012-13 programme.
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Friday 6 December 2013
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Nuku'alofa, Tonga
Tonga's banks remain flush with funds, and are being urged to lend more to help stimulate an economy that looks as if it has stalled this year, as all key industries in Tonga except for construction recorded falls in lending, according to figures released today.
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Thursday 5 December 2013
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Nuku'alofa, Tonga
During its first year of operation Tonga's new National Retirement Benefits Fund collected over $6.15 million pa‘anga from its membership of 4,304 employees and 308 employers, and may expect to double its membership in the future as more businesses join the statutory fund, whose administration has been supported by donor funding.
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Tuesday 3 December 2013
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Nuku'alofa, Tonga
The rescheduling of Tonga's T$119 million loan from China for the reconstruction of Nuku'alofa has not been decided, according to Xu Zhiguang, the first Secretary of the Chinese Embassy, Nuku'alofa this afternoon, December 3.
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Tuesday 3 December 2013
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Nuku'alofa, Tonga
Tonga Power Ltd. has announced cheaper tariff rates for the month of December. The new tariff rate for December is 92.82 seniti per kWh, down from 94.45 seniti per kWh (1.63 seniti decrease).
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Friday 29 November 2013
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Nuku'alofa, Tonga
The Tonga Development Bank (TDB) opened a new Hihifo district branch at Nukunuku on 27 November, its eighth branch in Tonga.
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Thursday 28 November 2013
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Nuku'alofa, Tonga
The World Bank has announced that it has setup a US$5 million support operation to aid Tonga’s recovering economy.
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