Results for Business

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.

Warwick International Hotel Group has signed a lease with the Government of Tonga to build a resort in the 'Friendly Islands.'

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.

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.

A special US$848,968 Japanese Non-Project Grant Aid to Tonga was signed in Neiafu, Vava'u, last Wednesday, February 14.