Results for Business

There is increasing interest in the state of the economy: in particular the fall in the level of the Pa‘anga, the high level of inflation, and the economic reform programme. I intend to link these issues and to explain the economic and developmental factors behind them. In an educated, open society like Tonga’s, it is important that as many people as possible understand these important issues so that they can make informed contributions to the debate. From Matangi Tonga Magazine Vol. 18, no. 1, March 2003.

Tonga’s Crown Prince Tupouto‘a offers a radical solution to Tonga’s inflation crisis: he says the low Pa‘anga is retarding the economy, and suggests that Tonga could dollarise its economy, to allow the US Dollar to become legal tender here. Interview by Pesi Fonua. From Matangi Tonga Magazine Vol. 18, no. 1, March 2003.

A US rocket developer is pushing ahead with its plans to build a Space Port in Tonga, and is registering itself as a weapons manufacturer in order to export its rockets from the US. From Matangi Tonga Magazine Vol. 18, no. 1, March 2003.

When the 727-200 Tiger Line Cargo aircraft landed at the Fua‘amotu International Airport on February 18, it marked the dawn of a new era in the air freighting of cargo from Tonga to the market places of New Zealand, Honolulu and the West Coast of the USA. From Matangi Tonga Magazine Vol. 18, no. 1, March 2003.

When the General Manager of the Royal Tongan Airlines, Logan Appu went to Vava‘u to find out the views of tourism facilities operators about the service that is provided by the airline, he welcomed a blackboard full of complaints. From Matangi Tonga Magazine Vol. 18, no. 1, March 2003.

Coconut oil, which Tongans and other Pacific Islanders have used primarily for cooking and as body oil, could become a secure source of fuel to power their vehicles, according to Tonga’s Energy Officer, Tevita Tukunga. From Matangi Tonga Magazine Vol. 18, no. 1, March 2003.

During 2002 inflation accelerated to about 10 per cent and price pressures increased, as Tonga’s expansionary macroeconomic policies resulted in a marked decline in net foreign assets, a weaker pa‘anga and higher inflation, according to a new IMF report. From Matangi Tonga Magazine Vol. 18, no. 1, March 2003.

It was another record-breaking year for the Westpac Bank of Tonga. Its net profit after tax for the 12 months ending on 30 September 2002, was $5,592,328, the highest that the bank has achieved during its 28-years of operation in Tonga. From Matangi Tonga Magazine Vol. 18, no. 1, March 2003.

Squash exports to Japan for this year’s squash season in Tonga began in October, and the Quarantine Department reported that 10,800 tonnes of squash had been exported by the last week of October. From Matangi Tonga Magazine Vol. 17, no. 3, November 2002.