Official Foreign Reserves held by the National Reserve Bank of Tonga have decreased for the first time in five months. The official reserve for the month of February was T$258 million. This is $2.3 million less than the reserve of $260 Million for January.
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Thursday 11 April 2013
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Nuku'alofa, Tonga
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Wednesday 27 March 2013
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Nuku‘alofa, Tonga
Future projections for Tonga’s current debt crisis are not looking good, with an ever-rising tide of debt repayments visible over the next three years, leading to concerns that the government will be unable to maintain basic services.
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Wednesday 27 March 2013
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Nuku'alofa, Tonga
Tonga’s Energy Road Map will get a $6.5 Million boost from the European Union over the next three months after a deal was signed between the European Union and the Tongan Government at Pacific Energy Summit in Auckland on Monday March 25.
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Wednesday 27 March 2013
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Nuku'alofa, Tonga
The Tongan economy is stuck in a "development trap", according an International Monetary Fund (IMF) report on the current state of the Tongan economy that was released on Monday, March 25.
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Friday 22 March 2013
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Nuku'alofa, Tonga
The Government of Japan has committed $2.95 million pa'anga for the installation of a micro-grid control system at the Maamai Mai Solar Farm and a 1 mega-watt photovoltaic generator at Vaini to help Tonga's Energy Road Map move forward.
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Thursday 21 March 2013
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Nuku'alofa, Tonga
A two-day Pacific Leaders Energy Summit started in Nuku'alofa today, with eight leaders sharing experiences, while coming up with models to develop the usage of renewable energy in the Pacific.
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Monday 18 March 2013
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Nuku'alofa, Tonga
The price of motor fuel in Tonga went up sharply today, when the Ministry of Commerce, Tourism and Labour approved an increase in the price of fuel for March-April, increasing prices for a second month in a row.
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Monday 4 March 2013
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Nuku'alofa, Tonga
Emigration is invaluable to Tonga if its economy is to improve, according to a new Labour Market study on the demand for skills training in Tonga.
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Friday 1 March 2013
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Nuku'alofa, Tonga
Tongatapu's Mata'aho Kindergarten received a gift of 48 desks and chairs on Monday, February 25 in Nuku'alofa, donated by Ezi World Cargo.
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Thursday 28 February 2013
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Nuku'alofa, Tonga
ProComm Services, a new Help Line-Call Centre for telecommunications services in Tonga was officially launched by Princess Angelika this morning, 28 February at the Tungi Collonade, Nuku'alofa.
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Monday 18 February 2013
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Nuku'alofa, Tonga
Tonga's prices for Diesel, Kerosene and Petrol for February-March 2013, effective today 18 February, have increased compared to the prices approved by the Competent Authority for the previous month.
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Thursday 14 February 2013
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Nuku'alofa, Tonga
A new tax regime for small businesses in Tonga, offering flat tax rates on turnovers of under $100,000, has been drawn up by government in a proposed amendment to Tonga's Income Tax Act 2007.
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Friday 8 February 2013
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Nuku'alofa, Tonga
The Tonga Government has allocated $1 million to finance a new Agricultural Export Marketing Fund aimed at providing short term loans to exporters who buy exportable produce from farmers. Three agricultural produce exporting companies have been selected to access the funds.
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Wednesday 6 February 2013
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Nuku'alofa, Tonga
Foreign Reserves held by the National Reserve Bank of Tonga rose by $3.6 million, from $253.7 million in November to $257.3 million in December, or 9.3 months of imports.
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Tuesday 5 February 2013
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Nuku'alofa, Tonga
The International Renewable Energy Agency IRENA launched the world's first Global Renewable Energy Atlas on 13 January at Abu Dhabi, United Arab Emirate UAE, to coincide with the opening of IRENA's two-days Third Assembly 13-14 January. Tonga's Prime Minister, Lord Tu'ivakano led a 9-members Tongan delegation.
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Tuesday 5 February 2013
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Nuku'alofa, Tonga
Tonga's first small wind turbine project is expected to be commissioned by Tonga Power Ltd. at Lavengatonga on eastern Tongatapu in April, in a project that aims to collect data and provide experience in wind generation.
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Monday 4 February 2013
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Nuku'alofa, Tonga
Tonga's income is continuing to fall, the Governor of the National Reserve Bank of Tonga, Joyce Mafi, told the Tonga Chamber of Commerce and Industries on January 30, in a presentation on the state of Tonga's Economy.
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Tuesday 29 January 2013
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Nuku'alofa, Tonga
The first three solar powered street lights installed on Taufa'ahau Road are on a trial for three months to see whether they can help Tonga to reduce its cost of power and amount of fossil fuel for diesel generation.
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Tuesday 29 January 2013
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Nuku'alofa, Tonga
Kingdom Lager, a new beer that is soon to be brewed and bottled in Tonga, was launched at the Tali 'Eva Bar in Nuku'alofa on Saturday, 26 January.
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Thursday 24 January 2013
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Nuku'alofa, Tonga
The pull-out of Chathams-Pacific airline and the government plans to lease out two gifted aircraft has got businesses nervous over the uncertainty of ongoing domestic air services and their economic reliability.
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