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Results for Business

Thursday 19 April 2007
Nuku'alofa, Tonga
On the eve of the signing of a New Zealand Regional Seasonal Employer (RSE) work scheme, the wisdom of encouraging thousands of Tonga's best agricultural workers to leave the country has been questioned by commercial farmers here.
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Tuesday 17 April 2007
Nuku'alofa, Tonga
At the end of day one of Tonga's first National Economic Summit, the one thing that is clear, is that government has diligently mapped out the direction of the summit, aiming to create new economic and trade policy making bodies.
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Wednesday 11 April 2007
Nuku'alofa, Tonga
Tonga's pa'anga hit a ten year low today against the currencies of its major trading partners Australia and New Zealand.
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Wednesday 4 April 2007
Nuku'alofa, Tonga
A business Recovery Facility and a Business Hardship Fund - the first financial schemes to assist businesses that were wrecked by the November 16 riot - were officially launched today, by the Minister for Labour, Commerce and Industries, Hon. Lisiate 'Akolo.
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Friday 23 March 2007
Nuku'alofa, Tonga
ANZ will return to full operation on Monday, March 26, 2007 following the disruptions caused by the destruction of its building on November 2006.
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Monday 19 March 2007
Nuku'alofa, Tonga
An interest subsidy scheme to assist Nuku'alofa businesses hurt by the November 16 riots, will roll out on May 4, with funds from aid donors New Zealand and Australia.
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Friday 16 March 2007
Suva, Fiji
Warwick International Hotel Group has signed a lease with the Government of Tonga to build a resort in the 'Friendly Islands.'
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Wednesday 14 March 2007
Nuku'alofa, Tonga
Tonga's Reserve Bank will introduce new measures to help inject liquidity into the local banking system, to help meet the demand for new credit by businesses trying to recover from the destruction of the town centre on November 16.
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Wednesday 7 March 2007
Nuku'alofa, Tonga
The year 2006 may have been a tough year for most businesses in Nuku'alofa, but definitely not for the Westpac Bank of Tonga, which made a record net profit after tax of $7.5 million.
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Monday 5 March 2007
Nuku'alofa, Tonga
Tonga's official foreign reserves for February fell by $1.2 million, from $85.4 million to $84.2 million, an amount equivalent to 4.4 months of imports of goods. At the same period last year, 2006 Tonga's official foreign reserve was $82.4 million, enough for 4.3 month of import.
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Sunday 4 March 2007
Nuku'alofa, Tonga
The Tongan economy will be struggling for survival during the next financial year, 2007-08, warns Tonga's Minister of Finance, Hon. Siosiua 'Utoikamanu, saying that the government has suffered a massive hit on its revenue stream following the losses suffered by the country's businesses on November 16.
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Tuesday 27 February 2007
Nuku'alofa, Tonga
A proposed grant of TOP$4 million from NZAID and AusAID for the establishment of a Business Recovery Facility for Nuku'alofa CBD businesses that were affected by the 16/11 riot, is so far the only promise of definite capital input toward the rebuilding of Nuku'alofa's private businesses.
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Friday 23 February 2007
Neiafu, Vava'u,Tonga
A special US$848,968 Japanese Non-Project Grant Aid to Tonga was signed in Neiafu, Vava'u, last Wednesday, February 14.
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Thursday 8 February 2007
Nuku'alofa, Tonga
Tonga's plan to become a member of the World Trade Organisation WTO in July this year is now very doubtful, according to Paulo Kautoke, the Chief Executive Officer for the Ministry of Labour Commerce and Industries.
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Wednesday 31 January 2007
Nuku'alofa, Tonga
Following the events of November 16 BP Oil, the supplier of diesel fuel for Tonga's electricity supply refused to make further deliveries of critical fuel supplies, while demanding full payment and guarantees from the government, a Shoreline executive charges. David Dunkley, the Chief Operating Officer of Tonga's Shoreline Group of Companies said in a statement yesterday that the government in late November had made a payment of just under $2 million directly to BP Oil, in order to resume the supplies of diesel fuel to Shoreline for power generation.
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Monday 29 January 2007
Nuku'alofa, Tonga
The Tongan Government'’s Reconstruction Committee will hold a workshop beginning tomorrow to brief local businesses, the community and all other relevant counterparts on the proposed reconstruction plan for the capital Nuku'alofa.
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Friday 26 January 2007
Nuku'alofa, Tonga
The Tongan government injected $2 million into the Shoreline Power company to pay its fuel bills and prop it up following the destruction of its head office in the November 16 riots, it was revealed today. The government will now have to raise an estimated $60 million to buy back its power generation facility from Shoreline Power. By Pesi Fonua.
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Tuesday 23 January 2007
Nuku'alofa, Tonga
Representatives of two aid donor agencies, AusAID and NZAID announced in Nuku'alofa that Australia and New Zealand have allocated about $8 million pa'anga to subsidise interest rates on loans for businesses that were affected by the November 16 destruction in Nuku'alofa.
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Thursday 18 January 2007
Nuku'alofa, Tonga
Hope for the reconstruction of the Nuku'alofa Central Business District was given a boost this morning when the Prime Minister, Hon. Dr Feleti Sevele, told a meeting of displaced business people that materials for the reconstruction of the CBD would be exempted from certain taxes, and that all government leases in the area will be renewed for 99 years.
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Wednesday 17 January 2007

Nuku'alofa, Tonga
The public will be allowed to return to a changed central Nuku'alofa next week when two months of restricted movement will be lifted and pedestrians and traffic movements will be allowed into the central business district. FROM OUR ARCHIVES.

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