Results for Business

A continue decline of Tonga's foreign currency earnings has stifled the growth of the Tongan economy, the Governor of the National Reserve Bank of Tonga, Mrs Siosi Mafi said this morning, May 31.

Tonga has closed the fishing of sea cucumbers for three years, starting this year to allow the stock to recover from overfishing and illegal fishing.

Pacific countries cannot be left isolated from regional economic integration initiatives in the Asia-Pacific region.

Cell phone users in Tonga can now use their mobile phones in much the same way as they can use a plastic banking card to pay for goods and services in shops, and they do not need a bank account to transfer and receive money from overseas.

Tonga's Foreign Reserve increased by $1.1million to $240.3 million in April, which is equivalent to nine months of imports of goods.

Rev. Dr Tevita Havea was elected as the chairman of the National Retirement Benefits Scheme and Dr Sione Leimoni Taufu'i as its Chief Executive Officer, at the first meeting of the board of directors on May 2 at the office of the National Reserve Bank.

FROM OUR ARCHIVES, 24 April 2012. Two Tongan grandmothers who attended India's Barefoot College last year, have returned home with new skills ready to start installing new solar panels to provide electricity in under-privileged homes in their swampland community of 'Isileli. FROM OUR ARCHIVES, 24 April 2012.

The new Tonga Village Network Upgrade Project will not only upgrade power distribution in 17 villages throughout Tongatapu, but it is also creating jobs and industry training for 10 Tongan linesmen.

A ground-breaking ceremony for the construction of a Landing Station for a $US33 million submarine fiber-optic cable telecommunications network for Tonga, was led by the Prime Minister, Lord Tu'ivakano at Sopu, on the Nuku'alofa waterfront on January 24. The US$33million project, jointly funded, 80% by the World Bank and Asian Development Bank, and 20% by the Tonga Communications Corporation, is expected to be in operation by the second quarter of 2013.