Business

$8.4m paid in settlements to Fijian workers

A TOTAL of $8.4million has been paid out to workers as settlement agreements through the Employment Ministry’s mediation services since it was established in 2011. This was revealed by the ministry’s mediator, Tomasi Keni, while...

16th April

FFI to close Malau operations

FIJI Forest Industries Limited (FFI) will close its operations in Malau next month. A statement from the company said FFI had been in an insolvent state over the last decade. The statement said FFI was a native species plywood and veneer mill and the main reason for its insolvency status was the non-availability of native species logs....

Corporate jetmakers court Chinese elite for sales despite slowing economy

MONTREAL/SINGAPORE/SHANGHAI (Reuters) – Gulfstream Aerospace and Bombardier are trotting out their longest-range business jets at an Asian air show this week, as they compete for orders from China’s growing elite, despite the country’s slowing economy. The Asian Business Aviation Conference & Exhibition, (ABACE) opens Tuesday in Shanghai under a cloud of economic uncertainty, amid slowing...

Tepco begins second round of fuel rod removals at battered Fukushima nuclear plant

TOKYO (Reuters) – Tokyo Electric Power has begun removing spent nuclear fuel rods from a second building at the wrecked Fukushima plant, using remote-controlled cranes to lift hundreds of radioactive cylinders from a highly contaminated reactor site. The company, known as Tepco, said on Monday that it had successfully removed the first of more than...

Asia’s tech champions zero in on main street banking

HONG KONG (Reuters) – Asia’s internet firms are challenging the region’s traditional banks for consumer finances, tapping their massive user networks for business and following a trail blazed in China by tech giants Alibaba and Tencent. The push into banking by companies better known for their messaging apps, cute emojis and online holiday bookings comes...

Japan Post sells $2.9 billion shares in insurance unit at bottom of range – filing

TOKYO (Reuters) – Japan Post Holdings Co on Monday priced a share sale of its insurance business at the bottom of an expected range, a filing showed, raising $2.9 billion in the sale. Japan Post sold 136.7 million share at 2,375 apiece, the insurance company said in a filing, representing a 4 percent discount from...

EU approves tougher EU copyright rules in blow to Google, Facebook

BRUSSELS (Reuters) – Google will have to pay publishers for news snippets and Facebook filter out protected content under new copyright rules aimed at ensuring fair compensation for the European Union’s $1 trillion creative industries. EU governments on Monday backed the move launched by the European Commission two years ago to protect Europe’s creative industries,...

Amazon workers strike at four German warehouses

BERLIN (Reuters) – Workers at four Amazon logistic centres in Germany went on strike on Monday, the latest action in a long-running campaign for better pay and conditions. Trade union Verdi said workers at warehouses in Rheinberg, Werne, Bad Hersfeld and Koblenz had stopped work, with the strike set to last until Thursday in some...

Belgian cybersecurity agency finds no threat from Huawei

BRUSSELS (Reuters) – Belgium’s centre for cybersecurity has found no evidence that telecoms equipment supplied by Huawei Technology could be used for spying. The agency, which reports to the Belgian prime minister, had been tasked with analysing the possible threat posed by Huawei, which supplies equipment to Belgian mobile operators Proximus, Orange Belgium and Telenet....

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