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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Friday 6 December 2013
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Nuku'alofa, Tonga
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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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Thursday 28 November 2013
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Nuku'alofa, Tonga
The power distribution network of 33 rural villages in Tongatapu will be upgraded over the next five-years with over $38 million pa'anga, in the continuation of a Tonga Village Network Upgrade Project.
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Monday 18 November 2013
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Nuku'alofa, Tonga
The government has announced significant reductions in fuel prices to be effective from November 16 to mid-December.
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Monday 18 November 2013
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Nuku'alofa, Tonga
Seven District Officers in Tongatapu are now connected to the internet, thanks to a project launched by the Ministry of Internal Affairs earlier this month.
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Thursday 7 November 2013
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Nuku'alofa, Tonga
The Tonga government has handed over a lease of the 'Ahononou Quarry in Tongatapu to Sekitofa Malupo, who owns the Petani Quarry, 'Eua.
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Tuesday 5 November 2013
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Nuku'alofa, Tonga
Tonga has been ranked among the Pacific region's top performers for implementing business reforms over the last year, according to a World Bank Group annual report, however, the reason for the ranking is being questioned by those who look at business performance in Tonga.
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Friday 1 November 2013
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Nuku'alofa, Tonga
Digicel Tonga Ltd. is looking to take the usage of mobile internet technology to a new level in Tonga, by linking its services to Tonga's new submarine fibre optic cable, launching its service today, November 1. The mobile phone and internet company has leased fibre capacity from Tonga Cable Ltd., becoming the second carrier after the fibre was launched on 21 August 2013.
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Thursday 17 October 2013
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Nuku'alofa, Tonga
Cheaper fuel prices have been announced for mid-October to mid-November. The prices of Petrol, Kerosene and Diesel have all decreased compared to the prices approved for the last monthly period mid-September to mid-October.
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Saturday 5 October 2013
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Nuku'alofa, Tonga
The Tongan economy will grow by only 0.3% in 2014, according to the Asian Development Bank Outlook ADO Update 2013 that was published this week. Tonga’s economic growth has been on a downward spiral since 2011.
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Monday 30 September 2013
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Nuku'alofa, Tonga
Twenty-three Tongan graduates, including current fruit pickers under the Recognised Seasonal Employer Scheme to New Zealand, received their National Certificate in Horticulture during an inaugural graduation ceremony held last week, at the Tonga Maritime Polytechnic Institute compound in ‘Anana, Tonga. Photos by Linny Folau.
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Friday 27 September 2013
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Nuku'alofa, Tonga
The Asian Development Bank ADB is providing a USD$4.5 million grant to finance Tonga's efforts to achieve fiscal stability and to improve its long-term economic growth prospects.
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Wednesday 25 September 2013
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Nuku'alofa, Tonga
The power distribution network of villages in Tongatapu will be upgraded in the continuation of a Tonga Village Network Upgrade Project funded by New Zealand with $32 million pa’anga, its single biggest energy commitment in the Pacific to date.
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Tuesday 24 September 2013
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Nuku'alofa, Tonga
A one million pa'anga grant fund for tourism and manufacturing business development was launched by the Tonga government in Neiafu, Vava‘u on 20 September, and again in Nuku‘alofa on 23 September 2013.
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Monday 23 September 2013
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Nuku'alofa, Tonga
Ten line staff from the Tonga Power Ltd have won employment contracts with New Zealand’s Northpower Ltd. after completing a two-weeks recruitment boot camp. The group, including one woman, who are expected to migrate with their families in November this year have been called “professionals” and “great ambassadors for Tonga”.
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Wednesday 18 September 2013
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Nuku'alofa, Tonga
New fuel prices announced for September-October will see a decrease in the price of petrol for the first time in months. Prices for diesel and kerosene, however, continue to rise.
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