Business

Surcharge irrecoverable amount policy implemented

The Ministry of Economy has implemented a Surcharge Irrecoverable Amount Policy across the Government. In a circular to all government departments, acting Economy Ministry permanent secretary Shiri Gounder said over the years, irrecoverable surcharge amounts...

Pork sales up in Fiji as domestic demand increases

Fiji’s pig industry recorded a 233 per cent increase in domestic sales despite losing 60 per cent of its market when COVID-19 shut down the country’s tourism industry earlier this year. In a statement, Vuda Pig owner and president of the Fiji Pig Association Simon Cole attributed the increase in domestic sales to the local demand for pork. He...

24th October

Fijian Government buys out minority shareholders at half a cent per share

The Fijian Government is buying out minority shareholders in the Fiji Sugar Corporation at half a cent per share. This, according to a letter delivered to the shareholders signed by acting Econom Ministry permanent secretary Shri Gounder, which outlined details of the compulsory acquisition. In the letter, Mr Gounder says since Government holds a 90...

Evaluation ends for Fiji Business Excellence Awards applicants

The Fiji National University’s (FNU) National Training and Productivity Centre (NTPC) that manages the Fiji Business Excellence Awards has concluded its 2021 evaluation process for organisations that had applied for recognition this year. The levels of recognition for the 2021 applicants were finalised by the Panel of Review (POR) at the virtual meeting held last...

23rd October

Blood bank receives much-needed support

As a part of its 13th birthday celebrations, Digicel Fiji took the initiative to donate blood to the Fiji National Blood Bank Services (FNBS) and also pledged to create awareness about blood donation in Fiji to meet the growing demand. In a statement Digicel Fiji chief executive officer Farid Mohammed said they were pleased to...

FNPF extends unemployment assistance applications

The Fiji National Provident Fund has paid out $13.6 million to 1452 members under Housing Assistance, $9.06m to 1714 members with low-balance accounts, and $5293 to three members under the micro-business assistance. Fund CEO Viliame Vodonaivalu yesterday announced the extension of its Government Unemployment Assistance for Fijians living outside Viti Levu to October 31 –...

Benefits of starting young

The following article is part of Consumer Council of Fiji’s (CCoF) Project Financial Resilient Fijians (Project FRF) which is being implemented through partnership with United Nations Capital Development Fund’s (UNCDF) Pacific Insurance and Climate Adaptation Programme (PICAP). The project aims to help Fijian consumers become more financially resilient in the face of natural perils. When...

‘Organic island’ – Konrote launches Rotuma’s organic accreditation

The President Major General (retired) Jioje Konousi Konrote launched the Accreditation of Organic Rotuma and the Rotuman publication ‘Rak La Faeag Rotuam’ at a luncheon event at Suva’s Holiday Inn on Thursday. Supported by the iTaukei Trust Fund Board (TTFB), the book Rak La Faeag Rotuam is authored by retired teacher and educator Fauoro Titifanue,...

Business expands digital payment options

With its implementation of BSP’s internet payment gateway (IPG) solution, Courts has become the bank’s latest IPG merchant as the bank continues to assist a number of online businesses looking to adapt to the new ‘new normal’ way of doing business in Fiji. Vision Investments Ltd/Courts chief marketing officer Anil Senewiratne said their partnership with...

Biman: Government’s motions will push Fiji into ‘financial doldrums’

National Federation Party leader Professor Biman Prasad says two motions tabled by Attorney-General Aiyaz Sayed-Khaiyum in Parliament yesterday would push the country into “financial doldrums”. “We all want tourists to come back, we all want our other sectors to grow, we all want our economy to bounce back but we have to be realistic,” Prof...

Fiji’s A-G clarifies loan plan

Attorney-General and Economy Minister Aiyaz Sayed-Khaiyum said Fiji Airways wanted to use the $106.4million increased Government loan guarantee to the airline as part of its “contingency financing actions”. Speaking in Parliament yesterday, he said Fiji Airways “targets to pursue partial refinancing of the Fiji Airways Aviation Academy by $F50 million”. “This would involve raising finance...

Clubs and bars to open from November 11

Clubs and bars within and outside of municipal markets, and taverns and gaming venues will safely reopen for business from November 11. A government statement stated businesses would have to apply online for a “Permit to Operate” in order to open their facilities and applications will be done via the COVID-Pass Portal: www.covidpass.mcttt.gov.fj. “Applicants must...

Extra loan guarantee to allow FDB to lend

The Fijian Parliament yesterday approved a motion by Attorney-General and Minister for Economy, Civil Service, and Communications Aiyaz Sayed-Khaiyum to increase the Government’s guarantee from $170 million to $250 million for the Fiji Development Bank’s (FDB) borrowings. He said the additional guarantee would allow FDB to lend to appropriate businesses and individuals. He said it...

Government extends application period for unemployment assistance

The Government Unemployment Assistance for Fijians living outside Viti Levu has been extended to October 31. This application window is specifically for Fijians to apply through the myFNPF App only. “The extension of the application period is to allow Fijians who may have missed out on the deadline last week, to submit applications,” said Fiji...

Qantas to step up international flying amid ‘massive demand’ from Australians

SYDNEY (Reuters) -Qantas Airways Ltd said on Friday it would speed up plans to restart flights to many destinations and use some bigger planes amid “massive demand” for international flying as quarantine restrictions ease for Australian citizens. All 11,000 of the airline’s staff idled without pay, around half its workforce, will return to work by...

22nd October

Initiative supports local co-operatives

The Ministry of Commerce, Tourism, Trade and Transport’s Integrated Human Resource Development Programme is designed to empower Fijian communities and address unemployment in a holistic way through strategic partnerships between the public, private and civil society sectors. According to the ministry, the target sectors for the program include forestry, fisheries, agro-business and manufacturing. A lot...

Company records $13.97 million revenue

Manufacturers of packaging materials – Atlantic & Pacific Packaging Company Ltd – is cautiously optimistic that the domestic business environment will improve on the back of significant progress in the rollout of vaccinations together with the re-opening of borders within Viti Levu and relaxation of restrictions. Company chairman Rohit Punja said the pandemic induced economic...

Ministry awaits EIA report

The Department of Environment has issued a terms of reference for an environment impact assessment of the World Wave Project (WWP) and now awaits the submission of the report. Ministry of Environment permanent secretary Joshua Wycliffe said they were confident that the director of environment would make a well informed decision on whether to approve...

21st October

Come on over

IF indications of recent online activity are anything to go by, Fiji is looking good for the planned official border reopening on 1st December. Our tourism family has been overwhelmed by the number of bookings coming in, especially from our Vuvale partner Australia. This comes in the wake of Government’s recent Fiji Day announcement on...

Local pig industry fights back, moves towards normalcy

While the local pig industry continues to fight back and moving towards normal, it has a long way to go, says Simon Cole, president of the Fiji Pig Association and owner of Vuda Pigs. Mr Cole said the industry reported a 233 per cent in domestic sales which reflected the growing local demand for pork....

Partnership described as a step in the right direction

Customers of Bank of Baroda now have the option to transfer money from their accounts to M-PAiSA, following a successful integration of the mobile wallet platform with the bank’s M-connect plus facility. Bank of Baroda chief executive officer Sudhansu Khamari said with the integration, their customers would be able to transfer any amount from their...

Remittances rise – Mobile wallet transactions to hit $1b this year

Mobile money wallet transactions in both volume and value have grown by an impressive 627 per cent and 1068 per cent respectively in the five year period to 2020, says Reserve Bank of Fiji governor Ariff Ali. Speaking at the launch of the Bank of Baroda-Vodafone Fiji M-PAiSA Integration Partnership yesterday, Mr Ali said in...

20th October

Support for businesses – BLP’s adaptation grant provides hope for SMEs

It has been nearly two years since Fiji’s business economy has been fighting a ruthless battle to survive this global pandemic and to sustain their businesses. COVID-19 has forced many businesses to step out of their comfort zone of operations and discover alternative ways of generating income and attracting customers without the casual walk-in service....

E-commerce package for small businesses

A collaboration between Westpac Fiji and Fiji SME Business Owners Network will see the launch of a new e-commerce package that will make it easier for small businesses to understand the financial security required as well as the end-to-end setup processes to access the online payment service. A statement from Westpac Fiji yesterday said the...

Boost for border protection

The introduction of new trace detection device at our international borders is a timely boost for Fiji’s border security system as Fiji prepares for reopening of its international borders. Fiji Revenue and Customs Service (FRCS) board chairman Mahmood Khan made the statement at their FRCS office in Nadi yesterday to acknowledge the assistance from the...

New Zealand and Fiji’s partnership targets illicit trade

Fiji’s border protection will be further enhanced with the introduction of new trace detection device at our international borders, thanks to the New Zealand government. Fiji Revenue and Customs Service (FRCS) Board chairperson Mahmood Khan acknowledged the support of the NZ government saying the assistance was a timely boost for Fiji’s border security system as...

Westpac Fiji and SME Business Owners Network to launch new e-commerce package

Westpac Fiji and Fiji SME Business Owners Network are collaborating to launch a new e-commerce package that will enable more small businesses to access an online payment gateway and to make online payments possible. In a statement, Westpac Fiji chief executive Kip Hanna said they were pleased to partner with Fiji SME business owners and...

19th October

‘Significant decline’ in two-way trade between Fiji and New Zealand

The pandemic has had a huge effect on trade between New Zealand and Fiji, as the $1.1 billion two-way trading relationship had dropped to around about $550 million in the year to June 2021. This was according to New Zealand Trade Commissioner to the Pacific David Dewar, who said a large part of that was...

Fiji’s construction sector prepares for surge

As far as the construction industry in Fiji is concerned, it has been affected quite significantly as people in the sector were unable to work for long periods of time. According to Construction Industry Council (CIC) president Gordon Jenkins, the only way a contractor was to make ends meet was to make money by working....

Under-spending due to tight control, says Gounder

The under-spending of $485 million in the 2020-2021 budget was due to tight control on public spending and the under-utilisation of certain budgetary allocations, said Shiri Gounder, the acting permanent secretary for the Ministry of Economy. He said the tight public spending and not using budgeted amounts was “due to the prevailing circumstances during the...

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