Business

29th November

Elon Musk: Apple threatened to yank Twitter from App Store

(Reuters) -Elon Musk accused Apple Inc of threatening to block Twitter Inc from its app store without saying why in a series of tweets on Monday that also said the iPhone maker had stopped advertising...

Financial inclusion and literacy for staff

FOR the first time, as part of its staff financial inclusion and literacy program, Fiji Gateway Hotel partnered with the Reserve Bank of Fiji to provide the much-needed awareness training to its staff members. According to Tourism Fiji some of the areas the training covered include planning and budgeting, the importance of saving and how...

Digital operator launches Christmas campaign.

WITH the launch of its Christmas campaign this month, Digicel will be giving away $100,000 worth of cash and prizes. In a media release issued yesterday, Digicel Fiji chief executive officer Farid Mohammed said this year they were celebrating the joy of giving in every home in Fiji. “Our Santa sack is stuffed full of...

Women Mentors

THE ‘solar grandmas’ sent to study at the Barefoot College in India in 2014 will become mentors at the new college in Vanua Levu. Women’s Minister Rosy Akbar said they were aware that some had passed away but the rest would be included in the curriculum once the new Barefoot College opens in Nadogo, Macuata...

Retailers on track for record Cyber Monday -Adobe Analytics

(Reuters) -Spending on Cyber Monday, the biggest U.S. online shopping day, may hit a record $11.6 billion according to one preliminary estimate, as discounts on everything from pajamas to AirPods tempt shoppers to click “buy” despite the strain on household budgets from high inflation. The estimate from Adobe Analytics predicts an increase of up to...

System Upgrade

The Reserve Bank of Fiji (RBF) has launched a newly upgraded Real Time Gross Settlement (RTGS) System on Monday, marking an important milestone in modernising Fiji’s payment system. The RTGS system is the first of the two major components being introduced as part of the automated transfer system (ATS): an important payments infrastructure which constitutes...

Disney CEO Iger makes profitable streaming a priority

(Reuters) -Walt Disney Co Chief Executive Bob Iger said on Monday one of his top priorities is to make the company’s streaming business profitable. Iger is responsible for Disney’s all-in embrace of streaming, and the launch of its marquee service, Disney+, but he acknowledged the measurement of success has changed. Wall Street investors now focus...

28th November

Besieged by COVID: Downturn in economic activities had a huge impact on MSMEs – Saxsena

Our heavy reliance on the tourism industry and the closure of our international borders led to significant downturn in economic activities during the pandemic. This according to HLB Mann Judd Fiji director corporate services Sanjay Ram Saxsena. He told this during a presentation at last Friday’s Business Assistance Fiji (BAF) organised Awareness and Networking workshop...

China’s industrial profits drop further as COVID woes take toll on economy

BEIJING (Reuters) -China’s industrial firms saw overall profits decline further in the January-October period as COVID-19 outbreaks flared up and cities imposed new virus curbs, including targeted lockdowns, dampening economic activity. Industrial profits fell 3.0% in the first 10 months of 2022 from a year earlier. That compares with a 2.3% drop for January-September, National...

Twitter CEO Musk says user signups at all-time high, touts features of “everything app”

(Reuters) – Twitter Inc Chief Executive Elon Musk has said that new user signups to the social media platform are at an “all-time high”, as he struggles with a mass exodus of advertisers and users fleeing to other platforms over concerns about verification and hate speech. Signups were averaging over two million per day in...

BOJ to conduct annual survey on climate finance to nurture ESG market

TOKYO (Reuters) – Bank of Japan (BOJ) Deputy Governor Masayoshi Amamiya said on Sunday the central bank will conduct a survey annually of financial institutions and companies, seeking ways to nurture the country’s growing climate finance market. An initial survey in August showed “strong demand” in Japan for “green” bonds and other environmental, social and...

27th November

China Jan-Oct industrial profits fall 3.0% y/y

BEIJING (Reuters) – Profits at China’s industrial firms fell 3.0% in January-October from a year earlier, after a 2.3% slump in the first nine months, according to data from the National Bureau of Statistics (NBS) released on Sunday. The bureau did not report standalone figures for October. With new COVID-19 cases in China hitting record...

Fiji Airways begin flights to Vancouver

National airline Fiji Airways’ inaugural flight to Vancouver had an 88 per cent capacity of passengers taking advantage of Fiji’s direct link to Canada. Fiji Airways managing director Andre Viljoen said this created a good number for a first flight. “The inaugural return flight from Vancouver to Nadi has a seat load factor of 88...

Macau’s 6 casino operators get new licences, Malaysia’s Genting out

(Reuters) -Macau’s government said on Saturday its six incumbent casino operators would be given new licences to operate in the world’s biggest gambling hub from January, with Malaysian operator Genting missing out on a spot. The highly anticipated announcement signals stability and continuity for the Macau operators who have invested more than $50 billion in...

26th November

Ali: No industry in particular to replace tourism; but work on other potential sectors

There isn’t any industry in particular that can replace the tourism industry, however, we could start working on other sectors that have potential to contribute to economic growth. Reserve Bank of Fiji (RBF) governor Ariff Ali made the comment during his presentation on macroeconomic outlook and living with global shocks at the TOPEX 2022 yesterday....

‘Work-ready people needed’

The private sector moves at a speed which is faster than changes that are taking place to close the gaps in the industry and its need for work-ready people. While sharing his views on the topic “Future of Fiji workforce – Global Perspective, Fiji Commerce and Employers Federation president Vinay Narsey said it was important...

RBF governor: Fijian economy projected to expand

The Reserve Bank of Fiji (RBF) board has agreed to maintain the Overnight Policy Rate at 0.25 per cent in its monthly meeting held November 24. The RBF has also projected economic growth and the receding of inflation. The governor and chairman of the board, Ariff Ali, stated that “domestic economic activity continues to be...

Many shoppers can’t find Apple’s latest iPhones on Black Friday

BETHESDA, Md./NEW YORK (Reuters) – Many shoppers looking for Apple’s latest high-end phones returned empty handed from its stores this Black Friday as the technology company struggles with production snafus in China. Among them were Sally Gannon and her son Michael, who were visiting an Apple store in Bethesda, where they found no iPhone Pros...

25th November

National carrier launches inaugural service to Vancouver

Canadians have been encouraged to take advantage of the twice-weekly flights  of the new exotic Fijian getaway with the launch of the Fiji Airways commercial flight to and from Vancouver. Shaenaz Voss, Fiji Airways Executive General Corporate Affairs while launching the national carrier inaugural flight to and from Vancouver at the Nadi International Airport said...

FNPF announces new retirement product

The Fiji National Provident Fund has announced the upcoming launch of a new retirement product that will offer members flexibility and earn an interest. Chief executive officer Viliame Vodonaivalu said the new product, called the DrawDown Account (DDA) will allow members to receive a monthly income, access withdrawal and earn interest on their balances. “Our...

70,152 tourists recorded in Fiji last month

A total of 70,152 tourists arrived in the county in October, compared with 72,657 in September. The Fiji Bureau of Statistics (FBOS) said out of the 70,152 visitors, 69,052 came by air while 1100 came by sea. The sea arrivals were mostly seamen on fishing vessels (1031) and 69 arrivals by yachts. Australia, New Zealand,...

24th November

Manufacturer renews support for TOPEX

With its renewed support for the Fiji Commerce and Employers Federation (FCEF) annual TOPEX this year, Paradise Beverages looks forward to engaging with other leaders and share ideas that will benefit businesses and the economy. Paradise Beverages general manager Mike Spencer said they were proud to support FCEF on the national stage and were excited...

Landowning units receive $4.1m

Two landowning units in Nacula, Yasawa yesterday received $4.1 million in premium for the lease of their land for a high end tourism project. A statement from the iTaukei Land Trust Board (TLTB) said the landowners would also receive an annual rental of $1.6 million when the tourism project commences operation. The landowners belong to...

Operators: Give base taxis priority

Taxi operators in Suva claim business was running smoothly until Government introduced the Open Rank Taxi System in April this year. Cabbies who spoke to The Fiji Times said they wanted to revert to the previous system where only those who paid base fees were allowed to operate from a specific stand. They were unanimous...

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