Results for Business

Tonga will be sending its largest ever trade mission of over 30 businesses to the 2008 Pacific Trade Expo to be held in Auckland on March 5-6.

Tonga needs more remittances and more foreign aid flowing into the country, if it is to maintain a balance of trade with Australia and New Zealand, its main trading partners, Hon. Afu'alo Matoto, the Minister of Information said last week.

The current value of the Tongan Pa‘anga continues to steadily weaken against the Australian and New Zealand dollar at the same it strengthens against the US dollar.

An equity fund agency in Nuku'alofa is being established by the Kula Fund II, a pool of multi-million capital funds.

Tonga's Foreign Reserve in December 2007 increased by $19.8 million, from $94.8 million in November to $114.6 million, an amount equivalent to 5.1 months of imports of goods.

The reconstruction of the Nuku'alofa Central Business District has been rescheduled to start in March, according to Sione Taumoepeau, the Chief Executive Officer for the Ministry of Works.

Rising from the ashes, a new Fung Shing Supermarket was opened for business at Fasi mo e Afi on Wednesday December 19.

Digicel Pacific Ltd's expansion to Tonga with the acquisition of Tonfon Communications, was announced by executives of the two companies in Nuku'alofa yesterday.

By 2030 an additional 37 million tonnes of fish per year will be needed to maintain current levels of fish consumption for an expanded world population. Because traditional capture fisheries have reached their maximum production levels, fish farming represents the only way to fill the gap. But it will only do so if it is promoted and managed in a responsible fashion.