- Business Index Rate - 12.50%;
- Residential Property Loan : Standard Variable Rate - 12.00%, 1 Year Fixed Rate - 9.75%;
- Investment Loan : Standard Variable Rate - 12.00%, 1 Year Fixed Rate - 10.00%;
- Personal Loans : Secured - 12.70%, Unsecured - 14.70%;
- Small Loans : Unsecured - 19.00%;
- Retail Term Deposits : 9 months to 1 year - 4.35%, 1 to 2 Years - 4.35%, 2 Years to 3 Years - 4.50%.
Thursday, May 31, 2007
ANZ Interest Rates (Updated 1.6.07)
Schedule of interest rates released by ANZ Fiji are as follows :
Colonial National Bank Interest Rates (Updated 1.6.07)
Schedule of interest rates released by Colonial National Bank are as follows :
- Business Banking Base Rate - 11.95%;
- Residential Property Loan : Variable Rate - 12.25%, 1 Year Fixed Rate - 10.40%;
- Investment Loan : Variable Rate - 12.25%, 1 Year Fixed Rate - 10.40%;
- Retail Term Deposits : 9 months - 4.75%, 1 year - 5.00%, 1.5 Years - 4.00%, 2 Years - 4.50%, 3 Years - 4.50%.
New banking service - Westpac
Westpac Banking Corporation has introduced a new banking service for its customers. The service will see the bank's officers visiting customers on site to pick up and deliver international transactions. It is targeted at those customers that regularly make or receive payments from overseas.
The bank said that the service would provide convenience and flexibility for international banking transactions and save customers from carrying documents to and from the bank, waiting in queues and find parking when visiting a bank.
For more information, pls call Westpac on telephone (679) 132032.
The bank said that the service would provide convenience and flexibility for international banking transactions and save customers from carrying documents to and from the bank, waiting in queues and find parking when visiting a bank.
For more information, pls call Westpac on telephone (679) 132032.
Westpac Interest Rates (Updated 31.5.07)
Schedule of interest rates released by Westpac Fiji are as follows :
- Business Lending Rate - 11.99%;
- Residential Property Loan : Variable Rate - 11.75%;
- Investment Loan : Variable Rate - 11.75%;
- Retail Term Deposits : 6 to less than 9 months - 4.25%, 9 months to less than 1 year - 4.25%, 1 year to less than 1.5 Years - 4.25%, 1.5 years to less than 2 Years - 4.25%, 2 years to less than 3 Years - 4.25%.
Wednesday, May 30, 2007
Toyota Tsusho makes a profit
Toyota Tsusho (South Sea) Limited, a company listed on the South Pacific Stock Exchange in Suva, Fiji, has made a net profit after tax of F$2.8 million for the period ending 31 March 2007. Of the F$2.8 million, F$1.6 million was contributed by the company's Fiji operations.
The result was lower than that recorded in the same period in 2006.
The company has attributed its lower results to lower new vehicle sales due to the current economic conditions. Its rental car business, run as Avis, also produced lower results due to the downturn in tourism.
Toyota Tsusho trades as Asco Motors in Fiji and has branches in Fiji, Tonga, Samoa and American Samoa.
Toyota Tsusho's share price as at 30 May 2007 was F$2.06.
The result was lower than that recorded in the same period in 2006.
The company has attributed its lower results to lower new vehicle sales due to the current economic conditions. Its rental car business, run as Avis, also produced lower results due to the downturn in tourism.
Toyota Tsusho trades as Asco Motors in Fiji and has branches in Fiji, Tonga, Samoa and American Samoa.
Toyota Tsusho's share price as at 30 May 2007 was F$2.06.
Tuesday, May 29, 2007
Fiji Economic Outlook
Read comments on the economy by the Interim Minister for Commerce and Investment in a copy of a Fiji Times articles below.
"Waradi worries for economy, Wednesday, May 30, 2007
The projected contraction in the economy is expected to worsen if key industries including tourism don't kickstart soon, says interim Commerce Minister Taito Waradi.
He said the decline would continue if tourism earnings did not pick up, if the gold mine in Vatukoula didn't restart immediately and if exports didn't increase over rising imports.
Mr Waradi was commenting on the request by the tourism industry for extra marketing funds from the Government.
The Finance Ministry has reserved comments on the industry's request for $3.8million to revamp its marketing strategies.
Interim Finance Minister Mahendra Chaudhry said he would comment once he received the submission from the Fiji Visitors Bureau.
On the state of the economy highlighted by tourism stakeholders last week, Mr Chaudhry said the economy had been contracting since 2006.
The industry has asked for an extra $3.8million to help in its recovery efforts following the decline since the December military takeover.
FVB chief executive officer Viliame Gavoka said the submission of $3.8million was made a few days ago. Figures released by the Fiji Islands Hotel and Tourism for the first quarter of this year showed cumulative hours lost by employees were 702,000.
Association president Dixon Seeto said this amounted to about $2.8million in wage loss and $0.5million lost towards Fiji National Provident Fund contributions.
University of the South Pacific economist Professor Biman Prasad warned the contraction of the economy would continue especially with the lack of recovery in the tourism industry.
Mr Waradi said given the central role of investment in growing the economy, Cabinet last week formed a high-powered sub-committee to address and remove whatever was preventing more than $6million worth of investments from being implemented.
More than $1million of this was offshore funding which could immediately boost our fast depleting foreign reserves, Mr Waradi said.
He said the interim Government intended to find other sources of funding for marketing the tourism industry, getting the Vatukoula mine started and finding alternative sources of fossil fuel from Papua New Guinea and South America."
Similar sentiments to those given by the Interim Minister of Commerce were voiced by an Economics lecturer of the University of the South Pacific Earlier the Reserve Bank of Fiji yesterday.
Last week, the Reserve Bank of Fiji had said that the economy would decline by around 2.5% in 2007 but will experience a turnaround in 2008.
"Waradi worries for economy, Wednesday, May 30, 2007
The projected contraction in the economy is expected to worsen if key industries including tourism don't kickstart soon, says interim Commerce Minister Taito Waradi.
He said the decline would continue if tourism earnings did not pick up, if the gold mine in Vatukoula didn't restart immediately and if exports didn't increase over rising imports.
Mr Waradi was commenting on the request by the tourism industry for extra marketing funds from the Government.
The Finance Ministry has reserved comments on the industry's request for $3.8million to revamp its marketing strategies.
Interim Finance Minister Mahendra Chaudhry said he would comment once he received the submission from the Fiji Visitors Bureau.
On the state of the economy highlighted by tourism stakeholders last week, Mr Chaudhry said the economy had been contracting since 2006.
The industry has asked for an extra $3.8million to help in its recovery efforts following the decline since the December military takeover.
FVB chief executive officer Viliame Gavoka said the submission of $3.8million was made a few days ago. Figures released by the Fiji Islands Hotel and Tourism for the first quarter of this year showed cumulative hours lost by employees were 702,000.
Association president Dixon Seeto said this amounted to about $2.8million in wage loss and $0.5million lost towards Fiji National Provident Fund contributions.
University of the South Pacific economist Professor Biman Prasad warned the contraction of the economy would continue especially with the lack of recovery in the tourism industry.
Mr Waradi said given the central role of investment in growing the economy, Cabinet last week formed a high-powered sub-committee to address and remove whatever was preventing more than $6million worth of investments from being implemented.
More than $1million of this was offshore funding which could immediately boost our fast depleting foreign reserves, Mr Waradi said.
He said the interim Government intended to find other sources of funding for marketing the tourism industry, getting the Vatukoula mine started and finding alternative sources of fossil fuel from Papua New Guinea and South America."
Similar sentiments to those given by the Interim Minister of Commerce were voiced by an Economics lecturer of the University of the South Pacific Earlier the Reserve Bank of Fiji yesterday.
Last week, the Reserve Bank of Fiji had said that the economy would decline by around 2.5% in 2007 but will experience a turnaround in 2008.
Sunday, May 27, 2007
Fiji Water demand grows
The demand for "FIJI Water", bottled and marketed by Natural Waters of Viti Limited, keeps growing. The company's biggest challenge is to meet the demand.
The company has continued to make significant investment in Fiji and will be opening its third line of production at its Yaqara facility shortly.
"FIJI Water" is bottled at source from an artesian well in the Yaqara range in the Nakauvadra mountains in the Ra Province on the Island of Viti Levu in Fiji.
The company, Natural Waters of Viti Limited, was first set up in 1996 and started its export of FIJI Water in 1997. It currently has about 200 employees.
FIJI Water is sold at a "premium price" through retail outlets in the USA, Canada, France, Australia, UK and other countries.
There are other areas of Fiji which have more better tasting water than that marketed as FIJI Water but whose water have not been bottled. Some of the landowners on whose land the water sources are have decided to hold back on their resource given the (over) supply in the market.
Note : For information of some of these "undiscovered" water sources, pls call on telephones (679) 3396427 and (679) 9921427 or e-mail gilbert@connect.com.fj.
The company has continued to make significant investment in Fiji and will be opening its third line of production at its Yaqara facility shortly.
"FIJI Water" is bottled at source from an artesian well in the Yaqara range in the Nakauvadra mountains in the Ra Province on the Island of Viti Levu in Fiji.
The company, Natural Waters of Viti Limited, was first set up in 1996 and started its export of FIJI Water in 1997. It currently has about 200 employees.
FIJI Water is sold at a "premium price" through retail outlets in the USA, Canada, France, Australia, UK and other countries.
There are other areas of Fiji which have more better tasting water than that marketed as FIJI Water but whose water have not been bottled. Some of the landowners on whose land the water sources are have decided to hold back on their resource given the (over) supply in the market.
Note : For information of some of these "undiscovered" water sources, pls call on telephones (679) 3396427 and (679) 9921427 or e-mail gilbert@connect.com.fj.
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