The Fiji TimesBusiness Archives

Platform for learning and networking

Desgined and hosted by women for women, the 2nd Women Invigorating the Nation (WIN) Convention is scheduled to be held on March 24 and 25 this year. The WIN Convention will be hosted by the Women Entrepreneur Business Council (WEBC), a council under the Fiji Commerce & Employers Federation (FCEF). WEBC chairperson Eseta Nadakuitavuki said...

A ray of hope – An inclusive, collaborative approach to tourism and tourism policy planning

The new coalition government offers a ray of hope for a more inclusive and collaborative approach to tourism and tourism policy planning. An opinion expressed by renowned academic Dr Apisalome Movono who has been part of multiple published works about tourism policies in the age of COVID-19 and the current recovery phase. Dr Movono spoke...

Market for local product

Fijian products have a lot of potential in the global market and this has been proved by countless products with the most recent being Island Style Peanut Butter. According to Investment Fiji, the local business recently featured on Investment Fiji’s trade products list which led them to secure an international trade deal. Island Style Peanut...

Adani’s $2.5 billion share sale faces crucial day after Indian rout

NEW DELHI (Reuters) -Gautam Adani faces a critical day on Monday with his flagship company’s $2.5 billion share sale’s second day of bidding overshadowed by a $48 billion rout in the Indian billionaire’s stocks which was sparked by a U.S. short seller’s report. Seven listed companies belonging to the Adani conglomerate, which is led by...

New role for Diana

British American Tobacco (BAT) Fiji’s recent head of human resources and inclusion, Diana Fong is taking on a role as area head of talent, organisational effectiveness and inclusion for BAT South East Asia. Ms Fong who is a local Fiji talent has more than 18 years of human resources experience. She will move to Sydney...

Resilience and tourism recovery

Prime Minister Sitiveni Rabuka will be chief guest at the 2022 ANZ Fiji Excellence in Tourism Awards gala dinner next month. FETA chairperson Debra Sadranu mentioned that both the PM Sitiveni Rabuka and Tourism Minister Viliame Gavoka had accepted the invitation to be part of the much-awaited event on Denarau Island’s Sofitel Fiji Resort and...

Finalists to be acknowledged accordingly, says Sadranu

Finalists for the 2022 ANZ Fiji Excellence in Tourism Awards will be acknowledged accordingly with gold, silver and bronze at next month’s gala dinner. Describing the upcoming affair as exciting, FETA chair Debra Sadranu explained that it was just proper to award finalists in the 20 categories accordingly given the fact that they’ve all recovered...

Tourism operator launches new strategic plan

Tour Managers managing director Damend Gounder says the launch of their strategic plan is the culmination of a five-year research and development marketing process. The leading destination management company’s strategic plan “Waitaci Karakarawa” was launched on Thursday during a team retreat at the Hideaway Resort and Spa. In a media release Mr Gounder said the...

Commercial loans – Facility also open to private sector entities

Employers can make commercial loans with the Fiji National Provident Fund at a minimum of $1 million. While speaking at the FNPF Forum in Nadi, Fund chief operations officer Pravinesh Singh said the loan could be accessed not only by employers but any private sector entity. “We have a commercial loan portfolio which you can...

Newly opened store attracts shopper

WITH Government’s school assistance of $200 expected to be paid out this week, parents have made good use of the newly opened Deoji’s shoe shop in Labasa Town. The shop, Deoji & Sons Pte Ltd opened along the town’s Naseakula main street and has attracted many customers including parents who have checked the prices of...

Rehan’s unwavering determination

A MAN with a diverse set of business ideas and a determination worthy of praise, Rehan Khan has recently opened the doors to a café with a unique and commendable core idea. Those told to visit serene, soothing places like beaches, mountains, and of course gardens, for stress relief now have another more accessible location...

Countries share enduring bilateral ties

FIJI and Australia have shared a strong and enduring bilateral relationship, with extensive investment and trade ties. Through the Vuvale Partnership, we have further strengthened our partnership and elevated it to the next level. This statement made by Deputy Prime and Minister Minister for Trade, Cooperatives, SMEs and Communications Manoa Kamikamica at a celebratory breakfast...

Recognition for minor tourism operators

A NUMBER of upcoming and minor tourism operators have been announced finalists at this year’ ANZ Fiji Excellence in Tourism Awards. FETA chair Debra Sadranu said it was just right to acknowledge employees and organisations who had worked tirelessly to get the industry back to its feet. “It’s very exciting to see names we have...

Parents applaud school assistance

LONG lines of people were common features around Labasa Town yesterday as parents queued to withdraw Government’s back to school $200 assistance. The line outside Vodafone shop which started as early as 7am covered a length of about 30metres along the main street while shoe shops were packed with students and parents. Parent Setaita Narivibulu...

Unsung heroes

CUSTOMS officers in Fiji and abroad were at the forefront of operations in the wake of the COVID pandemic, and were instrumental in keeping trade open in a time of great uncertainty. This was one of the key messages delivered by stakeholders in Suva as they gathered to mark International Customs Day at the Fiji...

Biman focuses on economic recovery

MINISTER of Finance Professor Biman Prasad says the coalition Government is focused on overall economic recovery. Addressing the Sugar Industry Stakeholders Meeting on Wednesday, he said Government would ensure sustainable economic recovery. “It has to be supported by all the sectors of the economy,” Prof Prasad said. “And part of that recovery process is to...

Many challenges for sugar industry

SUGAR Minister Charan Jeath Singh says there are various challenges facing the sugar industry. He was addressing the Sugar Industry Stakeholders Meeting yesterday. “There are various challenges such as high cost of production, harvesting and transportation issues, grower related issues, milling issues, natural disasters and marketing related issues, lack of value addition, politics, et cetera,”...

Musk says Tesla price cuts triggered demand, 2023 sales could hit 2 million vehicles

(Reuters) – Tesla Inc’s aggressive price cuts have ignited demand for its electric vehicles, Chief Executive Elon Musk said on Wednesday, playing down concerns that a weak economy would throttle buyers’ interest. The company slightly beat Wall Street targets for fourth-quarter revenue and profit earlier on Wednesday despite a sharp decline in vehicle profit margins,...

Philippines posts $4.6 billion trade deficit in December

MANILA (Reuters) – The Philippines posted a trade deficit of $4.6 billion for December, government data showed on Thursday. Imports in December declined 9.9% to $10.3 billion from a year earlier, while exports fell 9.7% to $5.7 billion, the Philippine Statistics Authority said.

South Korea vows support for exporters as economy shrinks

SEOUL (Reuters) – South Korea’s government promised strong support for exporters after the country posted on Thursday its first economic contraction in 2/1-2 years due mainly to a crash in exports. Playing down the economic slowdown as part of a global trend, Finance Minister Choo Kyung-ho pledged prompt support measures for exporters, such as tax...

ASML CEO expects steady China sales in 2023 despite restrictions

AMSTERDAM (Reuters) – ASML Holding NV’s exports to mainland China will likely hold at last year’s level in 2023 despite ongoing U.S-Dutch government talks over new restrictions on the company’s sales to the country, CEO Peter Wennink said on Wednesday. ASML, which dominates the market for machines used in one step of the chipmaking process,...

Reopening of properties

Tourism Fiji chief executive Brent Hill says the industry is keen on seeing the two major properties in Nadi renovated and open. The Pullman Nadi Bay Resort and Spa and Westin Denarau Island Resort & Spa have been closed for major renovation works since COVID and are expected to reopen later this year. “Yes! We’re...

Ready for visitors – Tourism sector well positioned to receive tourists from China

Fiji is among the 20 countries China has selected to resume outbound group travel to when it opens its border early next month. Tourism Fiji chief executive Brent Hill shared this great news recently on Twitter and indicated that the tourism sector was well positioned and ready for Chinese tourists. “This is great news, as...

$8.7 billion net assets in 2022

The Fiji National Provident Fund (FNPF) has received significantly more returns on local investments in the 2022 financial year as compared with the previous year. According to their annual report the funds’ net investment income before expenditures for the 2022 financial year has grown from $543.5 million in 2021 to $650.8m. The fund recorded $8.7...

Fund considers new investments

The Fiji National Provident Fund’s (FNPF) investment portfolio grew from $8.1 billion in 2021 to close with $8.6b in 2022. Despite the significant COVID-19 payouts to members, the fund was able to achieve growth in the investment portfolio. The return on investment achieved in 2022 was 7.4 per cent (net). This was stated in the...

IBM reports highest annual revenue growth in a decade

(Reuters) – IBM Corp on Wednesday reported its highest annual revenue growth in a decade and beat Wall Street expectations for the fourth quarter as more businesses looked to optimize their operations and save costs amid an economic downturn. The IT software and consulting company also forecast annual revenue growth in the mid-single digits on...

Good signs for market development

An analysis of the local stock market shows that despite these global headwinds and the real challenges that they pose to Fiji and the region, the year 2022 for the South Pacific Stock Exchange (SPX) contained good signs for continued market development. In its 2022 Stock Market Review SPX acting chief executive officer Pretesh Prasad...

Finance company shares dominate volume traded

Kontiki Finance Ltd (KFL) shares dominated the aggregate volume traded on the South Pacific Stock Exchange (SPX) by 24.02 per cent while Toyota Tsusho (South Sea) Ltd (TTS) shares dominated the aggregate value traded by 39.86 per cent in 2022. According to the SPX the main contributing factor to the high volume and value traded...

Outlook for this year

The focus for South Pacific Stock Exchange (SPX) in this New Year is to increase the number of entities listed on the equity market and build on the success of the inaugural Wholesale Corporate Bond listing in 2022, to name a few. SPX acting chief executive officer Pretesh Prasad said their focus would also include...

Business

Incentive to employ local artists