Ports offers free berth for ships

SOLOMON Ports has announced it will completely remove all domestic charges to all local vessels berthing at the Honiara domestic terminal for one month.  The fee waiver will come into effect as of next Monday 30th March 2020, Ports said in a statement.  “The removal of all domestic charges will be in force for one…

Three new faces elected to SICCI Board

The Solomon Islands Chamber of Commerce and Industry (SICCI) has two new faces on its Board of Directors, following the latest elections of Board Members. This was during the Chamber’s Annual General Meeting (AGM) on Wednesday 25th March 2020 at the Heritage Park Hotel in Honiara. Chairman, Jay Bartlett will continue his leadership of the…

Kimi: timely statistical info vital for  policy making

The country’s Government Statistician Douglas Kimi says timely and accurate statistical information is key for effective national development and policymaking as well as for poverty assessment and monitoring processes. Mr. Kimi highlighted this as he released the country’s rebased Gross Domestic Product (GDP) on Monday 23 March. Mr. Kimi via a statement issued by the…

Air Niugini, Virgin announce suspension

TWO airlines operating services into Honiara will temporarily suspend their international services into Honiara towards the end of this week. In a statement, agents for the two airlines Guadalcanal Travel Solomons (GTS) said Virgin Australia made its final service from Brisbane to Honiara and return Thursday. Virgin Australia Group made the decision in response to the…

THE IMPACT OF COVID-19 ON SOLOMON ISLANDS ECONOMY

The Central Bank of Solomon Islands (CBSI) wish to provide the following updates regarding the Corona Virus/COVID 19 impact on the national economy: The Coronavirus will likely have a considerable negative impact on the Solomon Islands economy. The spread and considerable disruption of this epidemic will be exacerbated by the increasingly intertwined trade and investment…

Payment System Bill, Tax Administration

Bill to Parliament The Ministry of Finance and Treasury (MoFT) has successfully secured the Cabinet endorsement of the National Payment System Bill and Tax Administration Bill 2019 to be table to Parliament.  This was confirmed by the Minister of Finance and Treasury Harry Kuma. A statement from MoFT said the National Payment System Bill 2019,…

Reopening DBSI to benefit rural businesses: Marau

The Minister of Lands, Housing and Survey, William Bradford Marau says the re-opening of DBSI will be good for the Makira Ulawa Province’s rural people wanting to develop their resources. He says resource owners should start thinking about venturing into new down-stream processing and industrial activities, and the use of modern technology in business on…

CURRENT MONETARY POLICY STANCE

At its meeting held on March 12th 2020, the Central Bank of Solomon Islands’ (CBSI) Board adopted an expansionary monetary policy stance for the next six months and aims to support growth in the economy, as inflation is expected to remain within its desired level. This decision was taken considering the expected slowdown in global…