The Fiji Times » Business

$35 million complex for Nausori

Nausori residents will soon have access to an apartment hotel and retail complex at the heart of the town’s main business area thanks to a public private partnership between the Nausori Town Council and Shop N Save Supermarkets Ltd. The approximately 7500 metre squared plot where the old Nausori market once stood will house a...

36 hotels record $4.3m room sales

Thirty-six hotels in Fiji recorded room sales of $4,372,033 in the month of August, Tourism Fiji has revealed in its monthly accommodation report. Fiji recorded 87,368 visitor arrivals in August. “In August 2023, properties in Fiji maintained a steady occupancy rate of 84%, showing a slight decline from the previous month of July, which averaged...

Telecom Fiji and Housing Authority sign MOU

Housing Authority (HA) and Telecom Fiji Limited signed a memorandum of understanding on Tuesday, marking a significant milestone in the digital transformation journey of the authority to enhance customer and staff experiences. The MOU paves the way for Telecom Fiji to provide innovative Electronic Document Management Solutions (EDMS) to enhance document handling and workflow efficiency within...

World Maritime Day reflections

In Fiji, and most parts of the Pacific, it’s common to have a friend with a boat or someone who simply adores sailing and relishing the open sea. Here in the islands, the ocean envelops us, providing protection, sustenance, and nourishment. For generations historically, the ocean has been the provider of life, food, medicine, heritage,...

1.7 per cent increase in August CPI

With the 15 per cent value added tax coming into effect from August 1, there was an increase in the average changes in the prices of goods and services purchased by households nationwide. The Fiji Bureau of Statistics has reported Consumer Price Index (CPI) for the month of August 2023 registered an increase of 1.7...

New chair and board members

Forensic accountant and academic Dr Ilimotama Cawi has been appointed as the new chairperson of the Real Estate Agents Licensing Board (REALB), including three board members. In a media release yesterday the board said Dr Cawi will be assisted by deputy chairperson Caroline Waqabaca with King Anwar Hussain and Unise Druavesi. Deputy Prime Minister and...

We are here to help! The benefits of joining the Fiji Commerce and Employers Federation

In the vibrant and dynamic landscape of Fiji’s private sector, the Fiji Commerce and Employers Federation (FCEF) stands as a steadfast beacon of support and advocacy for businesses across the nation. Established with the mission to protect, promote & preserve good Governance, free enterprise & commerce for the economic development in Fiji, FCEF has been...

Students graduate from a free training program

“Socioeconomic backgrounds should not deter us from dreaming,” said Minister for Education Aseri Radrodro at the graduation of more than a hundred underprivileged Suva residents from a free training program delivered by the Fiji National University (FNU). The week-long program offered training in domestic electrical installation, basic screen printing, basic cookery, small engine repair, and...

One billion steps in 60 days

In their efforts to raise awareness and support the work done by WOWS Kids Foundation, BSP Life has pledged one billion steps in 60 days. BSP Life’s acting managing director Craig Strong yesterday said they supported the work done by the foundation. Mr Strong said they would use whatever resources they had to get behind...

Tropical cyclone damage protection for farmers

The newly launched anticipatory action insurance product to protect farmers from tropical cyclone damage pays out up to 20 per cent of the sum insured 72 to 48 hours before the forecasted event. The product, launched by Sun Insurance with the support of the United Nations Capital Development Fund and the United Nations Office for...

Possible solution

The launch of an anticipatory action insurance product by the United Nations and Sun Insurance may be the answer to cyclone damage for many local farming groups. The Pacific’s first anticipatory action insurance product of its kind, it aims to provide co-operatives in Fiji with the financial resources to prepare for and recover from the...

Prominent awards for local operator

A prominent name in Fiji’s travel and tourism industry was honoured with two prestigious awards – Fiji’s Leading Tour Operator and Fiji’s Leading Travel Agency — at the recent World Travel Awards Asia & Oceania Gala Ceremony 2023 in Ho Chi Minh City, Vietnam. Rosie Holidays managing director Tony Whitton expressed his heartfelt appreciation for...

Beach cleaning technology

The InterContinental Fiji Golf Resort & Spa has invested in new, state-of-the-art beach cleaning technology to ensure the pristine beauty of Natadola Beach is preserved and protected. The IHG Resort owned by the Fiji National Provident Fund (FNPF), is reportedly the first in the country to purchase the Manta Beach Cleaner and implement the cutting-edge...

Flights to Noumea soon

Fiji Airways has announced it will start direct flights to New Caledonia from November 30th. Fiji has an existing Air Service Agreement (ASA) which allows Fiji Airways to provide services in French territories. “Based on this agreement, we were able to negotiate with our counterparts in New Caledonia and select a date for the commencement...

Better access to success

More than a hundred students have completed a one-week training program delivered by the Fiji National University (FNU) to gauge their interests and abilities, and encourage the pursuit of further education for those who had thus far been left behind. Acting Vice-Chancellor Professor Unaisi Nabobo-Baba said this initiative sends a message that every Fijian matters...

New chapter for 150 underprivileged students

“Let this graduation be a testament to our potential and a reminder that we have the power to achieve our dreams,” said TVET Domestic Electrical Installation graduate Tomasi Bula, speaking as representative of the about 150 students that graduated on Friday last week. The Fiji National University delivered a free week-long training program for street...

$50.5m profit

Fijian Holdings Group (FHL) recorded an operating net profit before tax of $63.22 million for the year ended June 2023 compared with $18.6m in the corresponding period last year. A market announcement from the group sent through the South Pacific Stock Exchange (SPX) said the group recorded a net profit after tax of $50.5m for...

Digital literacy is key

Digital literacy is vital to ensuring that people are not caught up in online scams, said Australia-based telecommunications scholar Amanda Watson. Speaking to the Fiji Times on the Ebay Shop Fiji scam saga, which closely follows a similar scam in Papua New Guinea early this year, Dr Watson said scams happen daily through digital means...

Loopholes in crypto law

Gaming vouchers linked to cryptocurrency in the Ebay Shop Fiji scam has exposed regulatory loopholes that allowed what is suspected to be over $1 million from the scam’s ill-gotten gains to be remitted offshore without the knowledge of the Reserve Bank of Fiji. RBF Deputy Governor Esala Masitabua said the purchase of online gaming vouchers...

Laws to tackle scams

Proper laws will soon be put in place to stop scams from spreading in Fiji in the future, said Minister for Trade Manoa Kamikamica. This comes in the wake of the recent Ebay Shop Fiji pyramid scheme, which collapsed last week leaving thousands of Fijians with financial losses. “Between all the agencies, since I came...

FHL Group posts $50m net profit after tax

Fijian Holdings Limited (FHL) Group posted a net profit after tax of $50.45million for the year ending June 2023. This represents a substantial increase from $14.90million recorded for the same period last year. The group also recorded an operating profit before tax of $63.22million for the same period, compared to $18.62million recorded in the corresponding...

Sugar industry set to be revived; Multi-million dollar investment promises jobs

A multi-million dollar investment which focuses on improving the declining sugar industry, uplift the lives of the iTaukei people and help generate government revenue is set to kick start soon. The investment is the brainchild of Rama Se Foundation founder and philanthropist Deepak Tahal and together with the Y3 Kofera Trust, the traditional owners of...

Ebay Shop scam | Majority complaints from the West

The Western Division recorded the most number of complaints lodged against the Ebay Shop. In a report, police confirmed that 38 out of 41 complaints received were from the region where two offices were allegedly established by the masterminds of the scam. Acting Assistant Commissioner Mesake Waqa said two complaints were received from Labasa and...

Exports generate $149million

GOLD, silver and iron magnetite worth $149 million was shipped off from Fiji in the 2020-2021 financial year, states the Lands and Mineral Resources annual report 2020-2021 that was tabled in Parliament this week. For the Financial year 2020-2021, two mining companies, Amex Resources Pte Ltd (iron sand) and Vatukoula Gold Mines Pte Ltd (gold...

Financial literacy training

ANZ’S focus is improving financial wellbeing in the community which means driving a savings culture in Fiji, says the bank’s country head Rabih Yazbek. Mr Yazbek said with careful budgeting, planning and through practical life skills that MoneyMinded offered, people, their families and communities could thrive. The bank recently held its flagship financial education program...

Bank holds 14 per cent market share

After just 10 years in Fiji, BRED Bank Fiji’s has grown its asset portfolio to $1.2 billion, representing a market share of 14.16 per cent, said chief executive officer Thierry Charras-Gillot. Speaking at the opening of the bank’s new branch at RB Patel Centerpoint in Laucala Beach, Nasinu, on Thursday, Mr Charras-Gillot said the investment...

$700k and counting | 308 Ebay Shop complaints in 48 hours

A little more than $700,000 in losses have been reported to the Consumer Council of Fiji (CCoF) and the Fijian Commerce & Competition Commission (FCCC) in just 48 hours by victims of the now collapsed Ebay Shop Fiji pyramid scheme, the Fijian Government has revealed. “Since the closure of the Ebay Shop, many people have...

Report: $47m net loss for WAF in 2019

The Water Authority of Fiji (WAF) suffered a net loss for the period ending July 31, 2019 amounting to $47 million, compared with a loss of $33 million in 2018. This is stated in the 2018-2019 WAF annual report that was tabled in Parliament this week. WAF chairman Bhavesh Kumar said WAF received from the...

Grace Road saga | Employees voice concerns over detained president

Employees of Grace Road have taken to social media to voice their concerns about their financial future and the well-being of their families. Their concerns come as company president Daniel Kim and other members of the company are being detained at the Suva Remand Center. In a short video posted on the company’s Facebook page,...

Business

Triple bottom line | Shifting smaller businesses from informal to formal sector