Business

27th March

COVID-19 Budget: FTUC – Government telling workers to fend for themselves

The Fiji Trades Union Congress has said: “Government is telling workers to fend for themselves”. FTUC general secretary Felix Anthony made the comments in reaction to the COVID-19 Supplementary Budget. The Government announced workers who...

COVID-19 Budget: Pandemic to depress domestic activity – Fiscal Supplement

The impact of COVID-19 will further depress domestic business activity. The uncertainty surrounding it poses further risks to foreign direct investment flows. And the spill-over effects on the tourism sector and imposition of movement restrictions will affect businesses in general. These are noted in the economic and fiscal update supplement to the COVID-19 Response Supplementary...

COVID-19 Budget: Increased deficit level gives sharp rise to debt – Fiscal Supplement

The Fijian Government’s debt is projected to be $6,988.9million, equivalent to 60.9 per cent of GDP by the end of July, 2020. This is stated in the economic and fiscal update supplement to the COVID-19 Response Supplementary Appropriation Bill 2020 that was presented in Parliament last night. “The sharp increase in the debt to GDP...

COVID-19 Budget: Fiji’s economy to contract by 4.3 per cent – Fiscal update supplement

The Fijian economy is expected to contract by 4.3 per cent this year after a 0.5 per cent growth in 2019. This is stated in the economic and fiscal update supplement to the COVID-19 Response Supplementary Appropriation Bill 2020 that was delivered in Parliament last night. “The economic decline will be much sharper depending on...

26th March

COVID-19 Budget: 20 per cent pay cut for ministers and their assistants

Fiji’s Minister for Economy Aiyaz Sayed-Khaiyum has announced a 20 per cent pay-cut for Ministers and Assistant Ministers. He said there would be no salary cut for civil servants. Mr Sayed-Khaiyum said the pay cut for Ministers and Assistant Ministers would be for six months. He said this would amount to $400,000.

COVID-19 Budget: FSC to receive $50m

Fiji’s Minister for Economy Aiyaz Sayed-Khaiyum has announced the Fiji Sugar Corporation will get $50million in the COVID-19 supplementary budget. He said the money would be used for cane delivery payments. Mr Sayed-Khaiyum said the Government was looking at balancing the balance of FSC.  

COVID-19 Budget: $5m boost for SMEs

The Small and Medium Enterprises Credit Guarantee Scheme will get a $5million boost. Minister for Economy Aiyaz Sayed-Khaiyum said during the Supplementary Appropriation Bill 2020 in Response to COVID-19. “An additional $5million will be added to the small and medium enterprises credit guarantee scheme,” he said. “Under this scheme, if any of these businesses with...

COVID-19 Budget: Health Ministry to get $40m supplementary budget

Minister for Economy Aiyaz Sayed-Khaiyum has said announced the Ministry of Health will get $40million in the COVID-19 supplementary appropriation bill 2020. The Ministry’s current budget is $347million. Mr Sayed-Khaiyum stated the additional money would be used to purchase new ventilators, face-masks and protective gear.

COVID-19 Budget: Fijians who tested positive will be paid 21 days sick leave

Fijians who tested positive to COVID-19 will not have to worry about sick leave. Minister for Economy Aiyaz Sayed-Khaiyum said during the Supplementary Appropriation Bill 2020 COVID-19 Response Budget. “To shift the burden of sick leave off of businesses and ensure employees do not have to use their leave, the Government will pay 21 days...

COVID-19 Budget: Informal sector affected by lockdown will be assisted

The informal sector affected by the Government-sanctioned lockdowns will also get assistance. Minister for Finance Aiyaz Sayed-Khaiyum said during the Supplementary Appropriation Bill 2020 COVID-19 Response Budget. “Furthermore, for those affected in the informal sector in the lockdown areas, Government will also be providing a one-off relief payment of $150 dollars for all those who...

COVID-19 Budget: Affected Lautoka residents can access $500 from FNPF

Lautoka residents affected by the quarantine or Government lockdown can access $500 from their FNPF. Minister for Economy Aiyaz Sayed-Khaiyum said during the Supplementary Appropriation Bill 2020 COVID19 Response Budget. “All those employees affected by our nationwide physical distancing requirements, along with employees in the Lautoka confined area who have been placed on leave without...

COVID-19 Budget: Several incentives announced

Minister for Economy Aiyaz Sayed-Khaiyum has announced several incentives in the COVID-19 supplementary appropriation bill 2020 in Parliament. Workers in the tourism sector who lost their jobs from February 1, 2020, can access $1000 after the bill is passed. Workers who were working in gyms can withdraw $500. If any person has less the amount authorised,...

COVID-19 Budget: Government to offer $1bn stimulus package

The Government will partner with FNPF to offer members a $1Billion COVID19 Stimulus Package. Minister for Finance Aiyaz Sayed-Khaiyum announced during the Supplementary Appropriation Bill 2020 COVID19 Response tonight. “Together with the Fiji National Provident Fund and our financial sector partners, this evening we are announcing a $1bn COVID-19 Stimulus Package,” he said. “This budget...

COVID-19 Budget: Virus can wipe out Fiji’s tourism industry – A-G

Fiji’s Minister for Economy Aiyaz Sayed-Khaiyum says Fiji’s tourism industry can be wiped out by COVID-19. He made the comments while presenting the COVID-19 response supplementary appropriation bill 2020 in Parliament. “Over the next few months, the tourism sector will be gone,” he said. “Thirty-eight per cent of our GDP will be wiped out.” Mr...

COVID-19 Budget: A-G – 25,000-plus workers lost jobs

MORE than 25,000 people have lost their jobs in the tourism industry directly due to COVID-19. This was the word from Attorney General Aiyaz Sayed-Khaiyum in Parliament this evening. He said it was important to expedite the COVID-19 response budget process because workers needed to access their Fiji National Provident Fund immediately. This was supported...

COVID-19 Budget: NFP leader notes party had proposed bipartisanship

National Federation Party leader Dr Biman Prasad has stated in Parliament that they had proposed bipartisanship in preparation and passage of the coronavirus response supplementary budget. He said in Parliament this evening that the NFP wanted this as a “genuine spirit of bipartisanship”. The Government has proposed a fast-track passing of the COVID-19 response supplementary appropriation...

COVID-19 Budget: Thermal screening at Government Building

Thermal screening is presently being conducted for all those entering the Parliament complex at Government Building. Fiji’s Attorney General and Economy Minister Aiyaz Sayed-Khaiyum is expected to deliver the COVID-19 response supplementary budget shortly. Earlier today, Mr Sayed-Khaiyum said the supplementary budget would offer relief to families, bolster businesses, protect workers and fund lifesaving containment...

COVID-19 Budget: Lautoka residents anticipate caring budget

Lautoka residents are looking forward to tonight’s COVID-19 supplementary budget announcement. Bonita Qio of Sandalwood Street said they were looking forward to a budget that took into account the issues affecting the people of Lautoka. “Majority of the people in Lautoka have lost their jobs and have been affected by this pandemic and they need...

COVID-19: FDB offers three-month relief package

The Fiji Development Bank (FDB) is offering a three-month relief package to its customers affected by COVID-19 pandemic. FDB customers affected by COVID-19 can check with the bank on whether they are eligible for: Interest only repayments Repayment holiday Waiver of rescheduling and inspection fees RBF’s Disaster Rehabilitation and Containment Facility. FDB acting CEO Saiyad...

Local grocers association to maintain uninterrupted services

The Fiji Grocers Association says it is putting all efforts to ensure it maintains uninterrupted services to customers. Association president Savendra Dayal said businesses had considered and were putting continuity plans in place to prevent any significant disruptions to supply chain and customer service. “However, conditions are challenging for all of us at the moment,”...

COVID-19: Sweet vendor closes business for the first time in 10 years

When the Government announced that Lautoka would be locked down from Thursday, March 19, 2020, Ajend Kumar said he knew things would go south very quickly. He operates Bhavish Sweets Enterprises, a must-stop for anyone travelling between Lautoka and Ba. Today he reported he was closed for business for the first time in 10 years....

COVID-19: HFC Bank offers repayment holiday for affected customers

HFC Bank is offering a loan repayment holiday for its customers affected by the COVID-19 pandemic. However, the bank said the customers affected would be assessed and depending on their circumstances, they would be assisted through one of the four relief options on offer. Apart from the loan repayment holiday, HFC Bank is also offering...

COVID-19: Courts Fiji to offer relief options

Courts Fiji customers facing genuine difficulties in meeting payment commitments for their hire purchase are likely to be offered some relief options. In a notice to its hire purchase customers today, the retail chain stated it understood and sympathised with the affected customers and arrangements would be made to offer relief to them. However, this...

COVID-19: Fiji Airways to operate final scheduled flight to Japan

Fiji Airways will operate its final scheduled flight between Nadi-Narita tomorrow. The national carrier said the flight which would return on Saturday is to assist Japanese citizens and residents return home to Japan, as well as to repatriate Fijians based in Japan back home. Only Japanese citizens and residents will be able to board from...

25th March

COVID-19: Disruption to tourism industry temporary, says ANZ economists

ANZ’s economists believe the disruption to the tourism industry will be temporary and once the virus passes, international leisure activity will recommence. The report on COVID-19 impact on Fiji’s tourism industry and economy states that prior to the pandemic, the leading indicators of overseas travel in Australia and New Zealand (Pacific’s key markets) were broadly...

Farid is Digicel Fiji’s new CEO

DIGICEL Fiji has announced the appointment of Farid Mohammed as their new chief executive officer – a first local to be appointed to the job since Digicel Fiji started operations in Fiji in 2008. A statement from Digicel said originally from Lautoka, Mr  Mohammed is a proven leader in the business having served since 2006...

Home work triggers demand jump for chips, laptops and network goods

SEOUL/TOKYO (Reuters) – With more employees working from home to help slow the spread of the coronavirus, demand is surging for laptops and network peripherals as well as components along the supply chain such as chips, as companies rush to build virtual offices. Many firms have withdrawn earnings forecasts, anticipating a drop in consumer demand...

24th March

COVID-19: Blue Lagoon suspends operations until May

BLUE Lagoon Cruises has suspended its operations until May 31, 2020. The company said the decision was in response to the evolving coronavirus situation and the suspension of commercial flights into and out of Fiji. The company was hopeful sailing would resume from  Friday June 1.” “We will review our ability to operate services again...

COVID-19: Resort operations to be temporarily suspended at month end

THE Wananavu Beach Resort in Rakiraki will temporarily suspend its operations from March 31, 2020. In a statement, the resort said it planned on taking reservations on July 1, “though this is subject to change.” “This is a serious situation and closing our operations marks a significant step to help stop the spread of COVID-19,”...

23rd March

Kasabias takes precautionary measures

PRECAUTIONARY measures are being taken by individuals and businesses to help fight the spread of COVID-19 and Kasabias has taken the initiative to have handwashing facilities available at all of its retail outlets. The company has set up handbasins at the entrance of all their retail shops (eight operational) and warehouses (four operational) and are...

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