Results for Business

The Tongan government will buy the national diesel power generation facilities from Shoreline Power this year, the Minister of Finance, Hon. Siosiua 'Utoikmanu told a Press Conference in presenting his 2007-08 Budget on Friday June 29.

The price for a loaf of bread in Tongatapu went up by 20 seniti from $1.20 to $1.40 last week.

The Tongan economy should bounce back during the new financial year, HM King George Tupou V said this morning in his speech from the throne to open Tonga's 2007 parliamentary session.

Tonga's official Foreign Reserves fell by $9.8 million to $80.6 million in April, an amount equivalent to 4.1 months of imports of goods.

Tonga's Minister of Finance Hon Siosiua T. T. 'Utoikamanu, has again expressed his concern over the projected significant decline of government's revenues, urging tighter government spending, and warning that government has few options for recovery after its reserves were used to pay for the civil service pay settlements last year.

For the first time in more than a decade, energy ministers from around the Pacific, have gathered in the Cook Islands this week to discuss critical energy security challenges facing the region.

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.

Tonga's pa'anga hit a ten year low today against the currencies of its major trading partners Australia and New Zealand.

ANZ will return to full operation on Monday, March 26, 2007 following the disruptions caused by the destruction of its building on November 2006.