Datec sale best option

THE announced sale of Datec is subject to regulatory approvals but Steamships Trading Company Ltd is confident these can be secured, managing director Geoff Cundle said. Responding to questions by The National on why the company was putting up its information communication technology arm for sale, Cundle said the value of Datec would be enhanced…

Credit demand

A POSITIVE economic outlook typically raises demand for credit as corporations take on loans with the view that they will be able to capture a piece of the more sanguine future growth outlook or profits, says a report released by the ANZ Bank. It said the return they would earn on the funds would be…

Pacific 11 get invite

Eleven Pacific Island nations have been invited to participate in an annual trade exhibition in Melbourne, Australia, later this year. Jeremy Grennell, from the Pacific Islands Trade and Invest (PT&I) said Pacific Island exporters should attend the trade exhibition as it was a cost effective sales and marketing platform. Grennell said the trade show, Fine…

World Bank alarmed as food prices rise

World food prices rose in the first quarter of the year for the first time since their all-time high in August 2012, driven by rising demand in China, drought in the United States and unrest in Ukraine. The leapAccording to the World Bank, internationally traded food prices increased by a sharp 4.0 per cent. The…

Port Moresby set for arts festival

Papua New Guinea is ready to host the 5th Melanesian Festival of Arts and Culture in Port Moresby. This was the assurance from the Culture, Arts and Tourism Minister Boka Kondra during a gala dinner at the Dynasty Restaurant last week.  The dinner was hosted by the minister to celebrate the commissioning of the festival…

Marshall Islands gov’t buys hotel for USP campus

The Marshall Islands government has bought a hotel in Majuro and will turn it into a campus for the University of the South Pacific (USP). The government made a US$2 million down payment on the US$3.8 million price tag for the 36-room Long Island Hotel. The government purchase reduces available hotel rooms in Majuro to…

Higher tobacco taxes proposed to save millions of lives

The United Nations health agency is calling on countries to raise taxes on tobacco to encourage users to stop and prevent other people from becoming addicted to tobacco. “Raising taxes on tobacco is the most effective way to reduce use and save lives,” says Margaret Chan, the Director-General of the World Health Organization (WHO). “Determined…

PNG needs to grow its own food: Minister

After 39 years of Independence, PNG continues to import many goods that can be easily produced locally, says Minister for Trade Commerce and Industry Richard Maru. Maru said these include beef where the country imports 50 percent of the annual requirements, dairy, milk and many dairy products, rice, fruits and vegetables and much more.  “PNG…

PNG names woman candidate for top Pacific post

High flying Papua New Guinea woman, Dame Meg Taylor, is the country’s nominee for the post of the Secretary General of the Pacific Islands Forum (PIF) Secretariat. Prime Minister Peter O’Neill said Dame Meg had a wealth of experience and knowledge that spanned 20 years in active service to the Government of Papua New Guinea.…

Forecast for growth

DOMESTIC economic conditions continue the robustness shown last year and most partial indicators for consumption and investment have shown positive growth, says Reserve Bank of Fiji governor Barry Whiteside. He made the comment following RBF’s board meeting on Thursday where it agreed to keep the overnight policy rate unchanged at 0.5 per cent. “This is…