Results for Business

A new Agro Building Complex and a renovated Tu'imatamoana Fish Market should be a booster for the enthusiasm of Tongan growers and fishermen to export more of their produces overseas, the Minister of Agriculture and Fisheries, Lord Vaea said at the opening of the complex on the seafront in Nuku'alofa on January 27.

A year after signing hydrocarbons exploration and mining agreements with the Tonga Government, a US-based venture capitalist group announced in Nuku'alofa on January 27 that they aimed to start exploratory drilling for oil in Tonga's seabed in 2014 - and they celebrated the occasion with not only a project presentation but also a guest performance by a Las Vegas singer flown to Tonga.

Tonga's Foreign Reserve for December 2010 that was held by the National Reserve Bank of Tonga, rose by $9.5 million to $177.5 million compared to $168.0 million in November 2010 and $160.4 million in December 2009.

Tonga Power Ltd made a $1 million pa'anga dividend payment to the Government on November 10, the first time ever for a government-owned electricity provider to pay the Tonga government dividend.

A large civic clock on the front of the Tonga Post office in central Nuku'alofa was handed over to the Tongan community on Thursday, October 28 after it was unveiled and accepted by the Prime Minister of Tonga Hon Dr Feleti Sevele.

The Kingdom of Tonga has given notice that it wishes to terminate the joint venture agreement supporting the weekly Air New Zealand service connecting Nuku'alofa and 'Apia with Los Angeles. The service will be suspended at the end of January 2011.

The ownership of a research report on Tonga for the Global Entrepreneurship Monitor has become a matter of contention between two groups of academic researchers from the Unitec Institute of Technology, New Zealand.

The new four-storey Taumoepeau Building that is towering over central Nuku'alofa and expected to be opened in August is the first to rise out of the ashes of the riot of November 11 2006, that destroyed a large area of the central Nuku'alofa Business District.

On June 24, in Abu Dhabi, IRENA and the Kingdom of Tonga will hold an official Signing Ceremony of the IRENA Abu Dhabi Declaration on the Tonga Energy Road Map 2010-20. The ceremony is an important milestone in the successful, on-going partnership between IRENA and the Pacific Kingdom. That partnership has resulted in Tonga going from being almost 100% dependent on imported diesel for electrical generation, to having one of the most ambitious energy plans in the world.