Business

20th May

Sweet investment

There has been a lot of focus on assisting small businesses with the aim to encourage them to improve and enhance their products and services. Grants have been provided by Government through the Fiji Development...

Access to funding a major challenge

One of the major issues over the past years SMEs or micro small businesses were faced with was access to funding or credit. The Reserve Bank of Fiji governor Ariff Ali, during their submissions to the Standing Committee on Public Accounts on the compliance audits relating to Micro, Small and Medium Enterprises Credit Guarantee Scheme,...

First in the Pacific- Bank to issue recycled plastic bank cards

ANZ is the first bank in the Pacific to issue recycled Visa debit cards which will be produced using a minimum of 70 per cent recycled plastic. ANZ acting regional executive for the Pacific, Ravendran Achari said consumers were increasingly moving away from ‘first-use’ plastic, including shopping bags, water bottles and straws. “Now, as customer...

18th May

Last year was a good year for service provider

The year 2021 was a good year for Aon (Fiji) and for its clients despite the challenges presented by COVID, according to general manager Steve Vincent. He said there were no major cyclone events in Fiji last year, which was a big risk factor for the company as it caused the most damage. “Because we...

Struggle of SMEs

The opening of the local and international border has not brought the economic uptake for SME business owners as expected. According to Fiji SME Business Owners Network founder Kim Beddoes, the perception with the reopening was that economic activity would pick up and the problems for SME owners would disappear. “It has been nothing of...

17th May

Tourism, jobs expected to rise

The completion of the much anticipated Nawi Island is expected to spur an increase in tourism which will increase employment opportunities and, more importantly, feed into and assist tourism and SME partners throughout the Northern Division. In a media statement the Nawi Island management said they were working with other local stakeholders to form strategic...

Investment pays off – Family members support each other in moving business ahead

Hemal Khatri took a chance and registered his own photography and cinematography business – Special Moments Photography & Cinematography and Photography Studio – in 2019 only to be hit by COVID-19 pandemic the following year. “Things were difficult because during the pandemic I had lost my day job and so I decided to give my...

16th May

Watchdog notes rise in expired goods being sold

There has been an influx in cases of expired goods being sold to consumers, according to the Consumer Council of Fiji (CCF). This came after continuous market surveillance by the council over the past week. It was stated that businesses took advantage of the shopping hype for Eid celebrations by placing expired and near-expiry products...

RBF maintains OPR at 0.25pc

Reserve Bank of Fiji (RBF) board has maintained the overnight policy rate (OPR) at 0.25 per cent. In a statement from the bank, the Governor and chairman of the board, Ariff Ali, noted that while some major trading partner economies had started to tighten their monetary policy stance to contain rising price pressures, safeguarding growth...

Expo promotes network – Fynch

An international buyer says this year’s Fijian Tourism Expo allowed them to unlock quite a lot of things that have been blocked from the past. Hotelbeds head of sourcing for the Australia, New Zealand and Pacific markets Matt Fynch said it was quite a huge relief to be able to travel to Fiji because most...

Westpac supports tourism industry

Fijian Tourism Expo gold sponsors Westpac, is optimistic about the future for tourism in Fiji and is proud to have been a major sponsor at this year’s exchange. Westpac Fiji chief executive Shane Smith explained the bank was committed to the event because of its recognition of the tourism sector’s enormous contribution to the national...

A-G: Fiji’s debt repayment around $100m annually on average; $3bn foreign reserves

Fiji’s external debt repayment, on average, is just around $100million annually and $3billion available in foreign reserves. This, according to Attorney-General and Minister for Economy Aiyaz Sayed-Khaiyum, and adds this is 30 times more than what is needed for external debt repayments. Mr Sayed-Khaiyum was responding to a question in parliament by Adi Selai Adimaitoga...

15th May

Bank invests $2.6m

The opening of a new BRED Bank branch in Lautoka City marks the beginning of a fresh phase in the development of the city; an expansion of facilities and strengthening of efforts to render financial services to the people of Lautoka both for commercial and retail customers. President Ratu Wiliame Katonivere noted this when he officially opened the...

90 per cent occupancy at Denarau Island

Denarau Island’s occupancy rate stands at 90 per cent this week as there is focus on bringing this to100 per cent next year. According to Denarau Corporation Ltd general manager Nesbitt Hazelman, for the past two years, Denarau Island was like a ghost town. “It’s really good to see the tourists out, walking on our footpath, walking...

New restaurant and supermarket to cater for residents

The Grace Road Group’s newest establishment opened on Friday at Wailoaloa in Nadi, creating employment for 10 people with plans to add 20 more to the list in future. Grace Road Group marketing and Operations manager Grace Sungdo said their popular store True Mart is situated on the ground floor while the first floor carries the...

Public outrage on change in fares

People using bus services expressed concerns yesterday as the new fares announced by the Fijian Competition and Consumer Commission kicked in. Those who spoke to The Fiji Times said they did not realise the level of the hike until they tapped their e-ticketing cards early in the morning. Timoci Lagilevu who was waiting to board the...

Foreign investment certificates: 63 issued with a combined value of $745m

Investment Fiji issued 163 foreign investment certificates which had a proposed combined value of $745m in the 2019-2020 financial year, states its annual report that was tabled in Parliament this week. Investment Fiji said these 163 investments were expected to generate 3434 jobs. Investment Fiji received 1592 investment and trade enquiries through marketing initiatives in key markets,...

$3.9m alleged tax related evasion case

At a time when nightclubs were closed during the 2020-2021 COVID-19 pandemic, a nightclub owner received $3.9 million into the nightclub’s bank accounts. The Fiji Financial Intelligence Unit (FIU) said in its 2021 annual report presented in Parliament this week, that this was a case of alleged tax related offence, tax evasion and money laundering. “Mr X...

Fiji exports $3.4m worth of kava to Australia in five months

Fiji has already exported around 30.4 metric tonnes of kava to Australia earning around $3.4million in five months after commercial kava export was allowed again to the Land Down Under. Minister for Agriculture Dr Mahendra Reddy revealed this in parliament this week saying this was a substantial gain for Fiji. He says there are 146...

14th May

Fiji’s labour market demands skilled professionals – Koya

The Fijian labour market demands the availability of skilled professionals, says Minister for Commerce, Trade, Tourism and Transport Faiyaz Koya. He told parliament that the Skilled Professionals Evaluation Committee (SPEC) – formed by the Registration of Skilled Professionals Act 2016 to support Fiji’s economic growth – had conducted a skill gap analysis to gather the...

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