The Governor of the National Reserve Bank of Tonga, Mrs Siosi Cocker Mafi, stated that at its meeting on 28 July 2009 the Reserve Bank Board noted that economic activity continued to slow down due to the impact of the global financial crises and contributing to this slow down is the decline in domestic credit growth. Domestic banks are tightening their lending criteria due to high non performing loans.
You are here
Results for Business
Thursday 30 July 2009
Premium content
Nuku'alofa, Tonga
Premium content
Thursday 23 July 2009
Premium content
Nuku'alofa, Tonga
A new series of business licensing brochures, making it easier for investors to acquire business licenses in Tonga, was launched by the Minister of Labour, Commerce and Industries, Hon. Lisiate 'Akolo at the Fa'onelua Convention Centre on Friday, July 17.
Premium content
Tuesday 21 July 2009
Premium content
Nuku'alofa, Tonga
Tonga's official Foreign Reserves held by the National Reserve Bank for June rose by $4.2 million pa'anga to $136.3 million, the highest so far for the year.
Premium content
Wednesday 1 July 2009
Premium content
Nuku'alofa, Tonga
The ANZ Bank in Tonga has opened a new retail branch in central Nuku'alofa, in a development project with Fund Management Ltd. that is bringing commercial life back to an area of the capital destroyed in the riots of 2006.
Premium content
Thursday 11 June 2009
Premium content
Nuku'alofa, Tonga
Seventeen licenses have been issued to sea cucumbers operators to fish, process and export dried beche-de-mers from Tonga for the 2009 season, which runs from April 1 until the end of September.
Premium content
Wednesday 10 June 2009
Premium content
Nuku'alofa, Tonga
Economic growth of 1.7% for Tonga is the aim of the government's $225.4 million pa'anga budget for 2009-10, the Minister of Finance, Hon. Afu'alo Matoto told the Tongan Parliament on Monday, June 8.
Premium content
Wednesday 10 June 2009
Premium content
Nuku'alofa, Tonga
Tonga's official Foreign Reserves held by the National Reserve Bank of Tonga for May fell by half a million pa'anga to $132.1 million, the equivalent of 4.6 months of imports of goods.
Premium content
Friday 15 May 2009
Premium content
Nuku'alofa, Tonga
Tonga's economic growth for 2008-09 is likely to be only around half a per cent, after a challenging year in which remittances have slowed, and lending has been cautious, according to an International Monetary Fund Report released yesterday.
Premium content
Wednesday 13 May 2009
Premium content
Nuku'alofa, Tonga
Tonga needs to enact insurance legislation, and could do so before 2010, says a newly released report on Insurance and Related Topics that was prepared for Government's National Economic Development Council.
Premium content
Monday 11 May 2009
Nuku'alofa, Tonga
The Tongan government is looking at giving Tongan civil servants another salary rise to increase their buying power and stimulate the economy, Tonga's Minister of Finance, Hon. Afu'alo Matoto told Matangi Tonga at the end of April, when he estimated that Tonga's economic growth for the current year would not reach one per cent. By Pesi Fonua.
Monday 11 May 2009
Premium content
Nuku'alofa, Tonga
Five licences were issued last week to sea cucumber operators to fish and to export sea cucumber from Tonga for the 2009 season, which runs from April 1 until the end of September.
Premium content
Wednesday 6 May 2009
Premium content
Nuku'alofa, Tonga
Although Tonga's six month fishing season for sea cucumbers opened on April 1, the quota for this year's export harvest has not been set and licenses have not been issued to operators.
Premium content
Monday 27 April 2009
Premium content
Nuku'alofa, Tonga
Tongan seasonal workers who are picking almonds in Robinvale, Victoria are earning good money and sending remittances back to their families in Tonga, reports Vava'u People's Representative 'Etuate Lavulavu.
Premium content
Wednesday 8 April 2009
Premium content
Nuku'alofa, Tonga
Tonga will introduce Electronic Company Registration in September, said Penisimani Latu, the Deputy Registrar of Companies, at the Ministry of Labour Commerce and Industries, today.
Premium content
Wednesday 1 April 2009
Premium content
Nuku'alofa, Tonga
Fuel prices rose throughout Tonga today with motor spirits reaching $2.22 per litre in Tongatapu and up to $2.95 in Niuatoputapu.
Premium content
Thursday 26 March 2009
2 comments
Premium content
Nuku'alofa, Tonga
A sulphuric mix of Tonga's sabbatical laws and last week's volcanic eruption on Hunga Ha'apai that led to the cancellation of Saturday evening's Air New Zealand 767 flight into Fua'amotu International Airport, is causing headaches for Tongan fish exporters who had perishable cargo destined for the USA and Japan. By Mary Lyn Fonua.
Premium content
Monday 9 March 2009
Premium content
Nuku'alofa, Tonga
Bluewater Metals South Pacific Ltd, an Australian exploration company the newest in Tonga, will begin looking for high-grade copper-gold-zinc-silver deposits in our waters in the second half of this year.
Premium content
Thursday 5 March 2009
Premium content
Nuku'alofa, Tonga
The ANZ Bank Tonga branch opened its new headquarter at the Fakafanua Centre, Ma'ufanga, this morning, built at a cost of $4.5 million pa'anga.
Premium content
Thursday 19 February 2009
Premium content
Nuku'alofa, Tonga
The newly established, Manufacturers Association of Tonga (MAT) Inc. elected its Executive Committee on Tuesday, February 17.
Premium content
Wednesday 18 February 2009
Premium content
Nuku'alofa, Tonga
Sione Tupou of Ha'ateiho was the lucky winner of $10,000 cash prize in the Back to School draw by Office Equipment in Nuku'alofa on Valentine's Day, February 14.
Premium content
