SPC: tobacco taxation is a ‘win-win’ situation

Every year, tobacco kills nearly six million people. It remains the largest preventable cause of death on the planet. With more than half the population in Tokelau, Kiribati, Nauru and Wallis and Futuna and over one third of people in Cook Islands, Samoa and Solomon Islands smoking daily, tobacco use contributes significantly to the nearly…

Exxon makes PNG gas dream a reality

Profound change is underway in the Papua New Guinean economy — and the fortunes of Australian Securities Exchange-listed companies Oil Search and Santos — following the first shipment from the ExxonMobil-led PNG liquefied natural gas project. First gas from the $US19 billion project is making its way to a utility company in Japan on board…

Large MPA – how can we manage them together?

The benefits, challenges and opportunities for collaboration in the management of large marine protected areas (MPA) in the Pacific are the focus of discussion at a workshop being held in Suva, Fiji, this week. The countries and territories of the Pacific Ocean are custodians for large tracts of the largest ocean in the world, which…

Telikom PNG announces acquisition of Datec

Telikom PNG Limited has announced its acquisition of Datec PNG Limited yesterday, subject to regulatory approvals. Datec is a leading internet service provider and one of PNG’s largest ICT system integrators.  Chairman of Telikom Mahesh Patel, when making the announcement, said the acquisition of Datec is very important for Telikom as it embarks on restructuring…

Banking partnership signed

The Bank of Papua New Guinea (PNG), Nationwide Micro Bank and K1 Association have signed partnership agreements confirming a commitment to deliver financial education training to a further 61,000 people in Papua New Guinea (PNG). Benny Popoitai, Deputy Governor of the Bank of PNG and Chairman of the Steering Committee of the Microfinance Expansion Project…

Trade ministers must learn from past mistakes – PANG

The regional non-governmental group, the Pacific Network on Globalisation (PANG), is calling on Forum Island Trade Ministers meeting in Kiribati this week to learn the mistakes from previous negotiations and avoid making binding commitments in areas that will not support their exporters. The focus of this week’s meeting is on the economic opportunities of trade…

Fisheries plundered off the Pacific Islands

Two-thirds of the Pacific Islands communities could run out of fish to feed their populations within 15 years. The concern is over both inshore and deep ocean fisheries that are not sustainable.  The warning comes as the Pacific Islands prepare to talk tuna fisheries management in Samoa in early July.  Dr Quentin Hanich, fisheries governance…

Concept in infant stages: ANZ

Finance  is a key input into sustainable economic growth, says a quarterly report from the ANZ Bank. In its Asia Pacific Economics Pacific Quarterly publication, the bank said the process of developing broader and more liquid banks, institutions and markets to finance growth was known as financial deepening.  “At its core, this involves opening up…

UN report shows return for national investments

Developing countries that invested in quality jobs from the early 2000s grew nearly one percentage point faster every year since 2007 and were better able to weather the economic crisis than comparable economies, according to a new report by the United Nations labour agency. The annual report of the International Labour Organization (ILO), The World…