Business

Focus on increasing tourism value, quality and returns

FIJI’S Tourism Ministry remains focused on increasing the country’s lucrative sector by way value, quality and generating higher returns. This was underscored by the Permanent Secretary for the Ministry of Industry, Trade and Tourism Shaheen...

Overdue bills

CONSUMERS have been encouraged to make arrangements for payments of their overdue bills to avoid facing meter disconnections. In a statement Consumer Council of Fiji acting chief executive officer Seymour Singh said consumers had a responsibility to ensure their bills were paid on time. This statement was made by Mr Singh after the Water Authority...

More young people investing in the stock market

THE South Pacific Stock Exchange recorded 13 new/first time investors who entered the trading market during November. Meanwhile eight existing investors re-entered the market either increasing their existing shareholdings in listed companies and/or in some cases diversifying their investment portfolio by investing in additional companies. According to the SPSE’s monthly stock market trading report for...

$2.04m boost

MINISTER for Industry, Trade, Tourism, Local Government, Housing and Community Development Premila Kumar officially received a cheque from the Indian High Commission for $2.04 million for assisting the establishment of small micro enterprises (SMEs). In receiving the cheque Mrs Kumar said the government was very grateful for the financial assistance by the government of India...

Telecom and media sectors dominate market

THE telecommunications and media sector represented 48.41 per cent of the aggregate market value at the end of November while the manufacturers and wholesalers sector had 18.00 per cent occupancy. This was highlighted by the South Pacific Stock Exchange in its monthly stock market trading report for November. A look at the market capitalisation by...

Youths urged to start their own businesses

ABOUT 30 youths from the Eastern Division have been urged to start their own business and take advantage of Government initiatives intended to create a more conducive environment for the youth. Addressing the youths at the two-day workshop in Suva yesterday, Ministry of Industry, Trade and Tourism director Economics Sekove Tamanitoakula told youths of the...

8th December

Group entertains staff members

COUNTING down the days to Christmas, the Naviti Resort staff members visited The Fiji Times office in Suva as part of their business thanksgiving trip acknowledging the one year of successful business. The Naviti Resort staff members represented not only the staff members and management but the tourism industry as a whole lightning up The...

Good year for resort, says Bathke

IT was Christmas cheer all around for villagers of Votua and guests and staff members of Naviti Resort as they marked the annual lighting of their Christmas tree on Thursday night. The upscale resort which sits on a beachfront property at Coral Coast had palm trees lit up in a myriad of lights as guests...

Bid to boost tourism

THE ownership of Warwick Fiji is committed to the resort and to Fiji and they have plans to continue to boost the country as a major tourist destination. Warwick Fiji general manager Tim Bathke made the statement at the resort’s annual Christmas tree lighting function that was held at the resort on Wednesday evening. Mr...

Arts talks about plans

HANK Arts, the general manager for the first newspaper published in the world every day, is ready for the year ahead and the challenges it brings. Mr Arts, 71, will officially retire as general manager in April next year and he will be handing over the reigns to a young and dynamic team in Christine...

Ready for the road ahead

EQUIPPED with the undying backing of her husband and three daughters and coupled with her close to two decades in the media industry, Christine Lyons is ready to take up the challenge of the general manager for the oldest newspaper company in the country. The Fiji Times Board chairman Kirit Patel said the appointment will...

7th December

Rise in profit

TOYOTA Tsusho (South Sea) Ltd, trading as Asco Motors recorded an increase in its profit for its half year financials compared with the same period last year. In a market announcement sent through the South Pacific Stock Exchange, company chairman Masahiro Kuwahara said the company recorded $10.1 million profit for its half year ended September...

Tourist property ends year on a high note

WHILE some Nadi tourist properties faced a few challenges because of weather events earlier in the year, the Tokatoka Resort, Nadi, says 2018 was its best year yet. Resort general manager Nasoni Tamani said the upsurge in business was the direct result of the commitment of his staff and support from management. “We did very...

Challenging year

IT has been a very challenging year for Telecom Fiji Ltd with business investments crawling at a slow pace because of the recent elections. TFL’s acting general manager business sales retail, products and marketing Joseph Naua made these comments at the TFL’s corporate cocktail function held at the Holiday Inn on Wednesday night. “It has...

6th December

$4.8 million profit

A PIONEER asset management company that was established in 1945, recorded a revenue of $4.8 million for the 10 months of this year. An announcement sent through the South Pacific Stock Exchange said VB Holdings Ltd’s revenue for the previous full year stood at $6.7m. Company chief executive officer Nitish Niranjan said the financial results...

Lee: Fiji still best for tourists

FIJI remains an attractive destination for world travellers despite stiff competition from other markets, says Shangri-La’s Fijian Resort and Spa general manager Francis Lee. Apart from having some of the best beaches and infrastructure, the warmth of the people and the range of activities and level of service provided continue to draw international visitors to...

Shangri-La’s Fijian ready to shine again

ONCE upon a time Shangri-La’s Fijian Resort and Spa was the premier holiday haven in the country. And after a $100 million refurbishment, resort general manager Francis Lee said the Yanuca Island property was ready to set new standards in terms of infrastructure, activities and service delivery. “It is true in some way Shangri-La’s Fijian...

Resort set its sights on larger share of local market

WHILE most tourism properties are chasing the international tourist dollar, Shangri-La’s Fijian Resort and Spa has set its sights on enticing a larger slice of the local market. Resort general manager Francis Lee said unlike the seasonal international market, locals had events throughout the year. “We always place emphasis on the Australia and New Zealand...

Platform to showcase capital markets

FIJI is lucky to be the host country for the 15th Annual World Exchange Congress in May 2020. Acting Prime Minister and Attorney-General Aiyaz-Sayed Khaiyum said Fiji being the hub of the Pacific had a huge role to play in ensuring the congress was planned properly. “This will be a chance to showcase Fiji not...

Financial intelligence unit records 566 suspicious transactions

ABOUT 566 suspicious transactions reports were recorded by the Fiji Financial Intelligence Unit (FIU) for the year ending July 2018. According to the Reserve Bank of Fiji (RBF) August 2017 – July 2018 annual report, the FIU received these suspicious transaction reports from various financial institutions and designated non-financial businesses and professions (DNFBPs). This was...

Fiji’s total financial system gross assets at $22.6b

FIJI’S total financial system gross assets stood at around $22.6 billion as of June 2018, the Reserve Bank of Fiji (RBF) noted. The central bank in its 2018 Financial Stability Review noted the growth in the Fijian financial system dominated by the banking industry. In the mix of total gross assets in the financial system,...

‘Tightening’ credit conditions in Fiji’s banking system

CREDIT conditions in Fiji’s banking system remains “tightening”, the latest credit conditions bi-annual survey conducted by the Reserve Bank of Fiji has revealed. The findings from this survey  – June 2018 Credit Conditions Survey – which is included in the 2018 Financial Stability Review, stated that these tightening credit conditions contributed to the slow growth in commercial banks’...

LTA upskills staff on vehicle inspection

THIRTY-THREE Land Transport Authority (LTA) staff from around the country a training on vehicle inspection, an important aspect of the body’s ongoing restructure. The four day training was facilitated by Japan Export Vehicle Inspection Center (JEVIC) as part of cooperative collaboration between LTA and JEVIC. The training was conducted by Shalmendra Dev, a training instructor...

$5.4m in unidentified FNPF contributions

A TOTAL of $5.4 million unidentified contributions was collected but not distributed to member accounts because of insufficient information supplied by employers. This was revealed by Fiji National Provident Fund (FNPF) chief executive officer Jaoji Koroi as he addressed the fund’s members during a public forum in Suva on Tuesday night. Mr Koroi said this...

Resort aims for local tourist market

WHILE most tourism properties are chasing the international tourist dollar, Shangri-La’s Fijian Resort and Spa has set its sights on enticing a larger slice of the local market. Resort general manager Francis Lee said unlike the seasonal international market, locals had events throughout the year. “We always place emphasis on the Australia and New Zealand...

5th December

TFL to continue rollout of fiber technology

TELECOM Fiji  (TFL) will continue to focus on the deployment of its ultra-fast fiber broadband service to customers in the New Year. TFL acting general manager business sales retail, products and marketing Joseph Naua said this would be part of their aim to “fiberise” majority of the nation. Speaking at a cocktail event for its...

MOU to increase financial literacy awareness

THE strength of the rural communities and the unique challenges they face has prompted a bank to partner with the i-Taukei Affairs Board and the Ministry of I-Taukei Affairs to provide financial literacy training to villagers. Yesterday the Westpac Banking Corporation renewed its memorandum of understanding with the board and the ministry until 2020 to...

Fiji plays hosts

A LOT of capital market development stories are being overlooked and Fiji being hosts of the in May 2020 will eventually shine the spotlight on the developing capital markets here in Fiji. These were the sentiments echoed by the managing director for Terrapinn Holdings Ltd Sean Willis during the official announcement of South Pacific Stock...

Koroi: Investment growth strategy to balance risks, returns

ISSUES such as irregular work patterns, relatively low income and general reliance on Fiji National Provident Fund (FNPF) to finance other expenses are some of the reasons that members have balances below $10,000. FNPF chief executive Jaoji Koroi said the challenge for the fund is to strike a balance between assisting members achieve a better...

29pc of FNPF members have balances above $10k

IN the past 12 months, Fiji National Provident Fund (FNPF) provided housing related assistance to 4890 members, approved education applications for 18,710 members and their families and completed medical assistance for 584 members. These figures were released by FNPF’s chief executive officer Jaoji Koroi during the fund’s annual member forum in Suva office yesterday. Mr...

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