Investment to be encouraged, says Narube
Unity Fiji Party Leader and former governor of the Reserve Bank of Fiji, Savenaca Narube, says investors assess corporate tax before investing in a business.
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Keep up to date with the latest Fiji Real Estate newsOutrigger Resort undergoes multimillion-dollar renovations
Outrigger Fiji Beach Resort is currently undergoing a multimillion-dollar major renovation.
Read MoreTourism continues to assist domestic economic recovery
The Reserve Bank of Fiji says in comparison to the international economy which was in shifting sands throughout the year, the domestic economy is making strides through the marked recovery in tourism.
Read MoreFiji is well-placed for double-digit growth in 2022
The Fijian economy is expected to grow by 12.7 percent this year.
The forecast by Westpac Fiji, states, this is 0.2 percentage points lower than the 12.9 percent growth anticipated earlier.
Read MoreTourism and remittances boost economic recovery
The Fijian economy continues to benefit from the recovery in the tourism sector, which has also been further boosted by the increase in inward remittances from Fijians overseas.
Read More$90m injected into Nawi Island development
Ninety million dollars has been invested into the development of Nawi Island in Savusavu over the past 18 years.
Read MoreEconomy forecast to grow by 12.6%: World Bank
The World Bank in its latest East Asia and Pacific Economic Update is estimating that the Fijian economy will grow by 12.6 percent this year.
Read MoreMinistry forecast upward growth in GDP
Fiji’s domestic economy is on track with a strong rebound for this year.
Read MorePositive outlook for insurance industry: RBF
The total assets of the Fijian insurance industry recorded a growth of 11.2 percent to $2.3 billion in 2021.
Read MoreNumerous opportunities for investors in tourism sector
Fiji’s dynamic and conducive business environment is attracting a number of foreign investors.
Read MoreFDB partners with TLTB
The Fiji Development Bank has inked a partnership with the iTaukei Land Trust Board to enhance its customer service delivery, particularly in obtaining clearance for mortgage and consent to the transfer of native leases.
Read MoreFiji is a logical choice for investment: Koya
Fiji remains attractive to investors and as a result, a growing number of innovative businesses are being established here.
Read MorePacific E-Commerce to boost digital trade
The shift toward E-Commerce underlines the need for businesses to continually innovate to stay competitive.
Read MoreLocal exporter establishes new deals in Australia
The Australia Trade Mission hosted by Investment Fiji last month has brought successful opportunities for one local company.
Read MoreFICL calls for EOI for new investments
The Fiji Investment Corporation Limited is inviting interested locally owned entities to submit an expression of interest for investment.
Read More26.6% increase in visitor arrival since June
Two hundred and thirty-four Fijians have taken over five years length of absence or permanently moved overseas while the visitor arrivals for July this year stood at a total of 78,638.
Read MoreConstruction-led investment spending is recuperating but remains subdued relative to 2019 levels – RBF
The March quarter construction activity indicators for Fiji point towards a rebound in activity as the number of building permits, completion certificates issued and value of work put-in-place increased both over the quarter and year.
Read MoreWork to develop affordable homes begin
Developers have been invited to register interest in a landmark housing project in the country, which will provide affordable, climate-resilient homes for 3,000 low and middle-income families.
Read MoreFiji begins selection of private sector developer for 3,000 affordable, climate-resilient homes in Viti Levu - IFC
A landmark housing project will get underway in Fiji soon which is expected to mobilise an estimated US$200 million of private investment in the country.
Read MoreTourism industry cautiously optimistic
The Fiji Hotel and Tourism Association has applauded the range of initiatives announced in 2022/2023 National Budget, saying they will continue to enhance and support private sector-led recovery efforts.
Read MoreBusiness Increasing Warehouse Capacity
Supply chain issues and shipment delays has seen some businesses in Fiji increasing storage capacity.
ANZ Country Head for Fiji, Rabih Yazbek says in many cases, businesses have spent working capital to buy excess stock to ensure they don’t run short on supplies
Read MoreIncreased economic activity buffer domestic inflation
Fiji’s current economic activity has to some extent, countered the harsher impacts of domestic inflation on ordinary consumers.
Read MoreDirect tourism value stood at $38.5m
The provisional direct tourism value added for 2020 was $38.5 million, or 0.5 percent of total gross value added.
Read MoreInvestment market making huge progress: Koya
The Ministry of Commerce and Trade is working with relevant stakeholders to promote Fiji as an investment destination.
Read MoreLending to private sector increases
The RBF has forecast the domestic economy is expected to gain momentum in the coming months
The Reserve Bank of Fiji in its latest economic review says the positive momentum in the domestic economy has bode well for the financial sector.
Read MoreNew Fiji Airways destinations coming
Fiji Airways is currently exploring new service routes outside of New Zealand, Australia and the USA.
Read MoreLand evaluations will be outsourced
The Minister for the Economy has announced that land evaluations by both the Ministry of Land and the Itaukei Land Trust Board will now be outsourced.
Read MoreFiji’s economy continues to expand at a faster pace: Westpac
Westpac Fiji expects the Fijian economy to expand, but now at a faster pace.
This was highlighted in Westpac Fiji’s Quarterly Economic Update.
Read MoreNew venture creates 60 jobs
A two-million-dollar investment in Port Denarau Nadi has seen Sails Restaurant open.
Read MoreFijian economy projected to grow by 7.1%
The Asian Development Bank in its latest outlook says the Fijian economy is projected to recover, growing by 7.1% in 2022 and 8.5% in 2023.
Read MoreBusiness compliance is critical: Koya
The Ministry of Commerce and Trade has noted a positive response from businesses conforming to the new changes announced by the government in the 2021/2022 national revised budget.
Read MoreTourism Expo receives major boost
The 2022 Fijian Tourism Expo received a major boost ahead of the premier event next month.
Westpac Fiji has signed on to be Gold Sponsors providing a backing of $45,000.
Read MoreReal estate agents play a vital role: Koya
For the real estate sector to thrive, Fiji needs to work within the boundaries of the law and bring in the right skills and discipline.
Read MoreFirst home owners’ initiative progressing well: Sayed-Khaiyum
In the 2020–2021 financial year the Ministry paid $7.5m under the first home owners’ initiative to 433 successful applicants.
Minister for Housing Aiyaz Sayed-Khaiyum says this was the highest payout since the program was introduced.
Read MoreFijian economy on path to recovery: Ali
Reserve Bank Governor, Ariff Ali says the domestic economy is on its path to recovery after two years of contractions largely led by the tourism industry which came to a standstill because of COVID-19.
Read MoreMiddle East Companies Keen To Invest
The Minister for Commerce, Trade, Tourism and Transport, Faiyaz Koya, met with a Kuwait company on his trip to the Annual Investment Meeting being held in Dubai, UAE.
This is on the margins of the Expo 2020 held in Dubai which ended on Thursday.
Read MoreTenancy complaints remain a rising concern
The Consumer Council of Fiji has received 84 complaints pertaining to landlord and tenancy issues this year.
Read MoreBusinesses show resilience during this third wave
The business sector has shown resilience during this third wave of the COVID-19 pandemic as most have implemented lessons learnt from the last two waves.
Read MoreTourism remains vital for the economy
Tourism will continue to play a major role in our economic growth.
With more states in Australia opening up for international travel, Fiji National University’s College of Business Dean, Professor Arun Elias believes this will augur well for Fiji.
Australians have made up the largest number of arrivals to our country since the international border opened last December.
Read MoreFiji’s trade remains undisrupted during this pandemic
Trade between Fiji and its partners has not faced much disruption during this pandemic.
This is particularly for trade between Australia and New Zealand.
Read MoreAbundant liquidity helped keep borrowing rates low
The Reserve Bank in its latest economic reviews has stated that abundant liquidity in the banking system and quantitative easing measures by them have helped keep borrowing rates low.
Read MoreEconomic activity picks-up
Economic activity started to pick up from the last quarter of 2021 as mobility restrictions were eased and international borders re-opened from December 1st says the Reserve Bank of Fiji.
Read MoreIncreased confidence in the Fijian market
The resumption of international travel has brought increased confidence in the Fijian market.
Minister for Economy, Aiyaz Sayed-Khaiyum says the past 18 months have been unstable due to the unknowns brought about by the pandemic.
Read MoreProfessionalism needed in the real estate sector
There is a need for professionalism in the real estate says Minister for Housing Aiyaz Sayed-Khaiyum.
Read MoreBusinesses improving and people are spending more
Fiji is in a much better position today than it was six months ago.
Presenting at the Fiji Human Resources Institute Convention this morning, Reserve Bank of Fiji Governor Ariff Ali says general business has improved sharply and people are spending more on the back of the economy opening.
Ali says he is optimistic that growth will hit double digits next year.
Read MoreREALB works on improving service delivery
The Real Estate Agents Licensing Board has been working on five critical projects to improve service delivery.
Board Chair, Doctor Abdul Hassan says they intend to enhance organizational capacity and foster real estate industry compliance.
Read MoreProperty prices expected to maintain despite LVR restrictions
The restrictions on the property market are getting tougher as loan to value ratio restrictions come into place.
From today, the amount of lending banks can make to owner-occupiers with small deposits, will be halved to no more than 10 percent.
But despite the tougher lending conditions, one mortgage broker said people shouldn’t expect an immediate cooling down for property.
Read MoreTourism boom coming: ANZ
Fiji’s economy is forecast to grow by 23.2% next year, on the back of a boom in tourism.
ANZ in its Pacific Economic Outlook has stated that closed borders due to the pandemic took a heavy toll on the Fijian economy which relies on free movement of people as international tourism accounts for 40% of the Gross Domestic Product.
Read MoreMore businesses open in Nadi Town
New ventures continue to spring up in Nadi despite the severe impact of the pandemic on our economy.
The Lales Millennium Group of Company has again invested in a new business, Lales Ocean Collection, signifying the confidence they have in the economy.
Read MoreIncreased guarantee to assist businesses
Attorney-General, Aiyaz Sayed Khaiyum, says the Opposition is objecting to ordinary Fijians increasing their participation in the economic well-being of the country.
Read MoreNZ companies hope to explore opportunities in Fiji
The resumption of international travel from next month will allow interested companies to pursue investment opportunities in Fiji with a specific focus on infrastructure.
New Zealand Trade Commissioner to the Pacific, David Dewar says there have been a lot of inquiries from companies hoping to explore opportunities in Fiji.
Read MoreEfforts to attract more Japanese investors
Investment Fiji is working tirelessly to promote Fijian products and services to Japanese companies.
Read MoreIMF predicts economic recovery by year end for Fiji
The International Monetary Fund has forecast a gradual recovery in Fiji’s economy late this year.
The IMF team leader Todd Schneider says COVID-19 put Fiji in a tight corner, and the government had to make tough decisions and borrow more.
Read MoreReal Estate prices stable
The real estate sector says the pandemic has had little effect on property prices and sales.
Real Estate Association President, Anand Goundar, says the lockdown posed certain challenges as agents were not able to show properties to interested buyers.
Read MoreProperty prices remain the same
A leading real estate company that has been operating for two decades, says despite the various tumultuous events the country has been through, residential and commercial property prices have remained stable.
Read MoreInternational border to re-open next month
Fiji’s international border will re-open to its travel partner countries from November 11, 2021.
Read MoreBusinesses take advantage of loan scheme
The Fiji Development Bank has received an overwhelming response from businesses for it COVID-19 Recovery Credit Guarantee Scheme.
The Scheme aims to assist Micro, Small and Medium Enterprises as well as large businesses affected by the pandemic.
Read MoreMassive interest for new agriculture programs
Close to 8,600 online applications were received by the Ministry of Agriculture for the new programs.
Read MoreBusiness re-opening signals return to normalcy
As businesses re-open from today, authorities have cautioned that breaches of COVID safe protocols will not be tolerated.
Read MoreBanks to extend loan repayment relief
The Association of Banks in Fiji has confirmed COVID-19 financial relief assistance to businesses will be extended to 31st March next year, on a case-by-case basis.
Read MorePrepare COVID safe workplaces: Dr Fong
The Ministry of Health is advising all workplaces and businesses to establish strategies to ensure personal COVID safe practices continue.
Read MoreFiji Airports ramps up its operation
Fiji Airways, Qantas and Virgin Australia have started taking passenger bookings for December.
Fiji Airports acting Chief Executive, Isei Tudreu says they are working with these airlines to ensure a seamless and safe airport experience when borders re-open.
Read MorePost Fiji business operations slowly bouncing back
Post Fiji Limited chief executive, Dr Anirudha Bansod says business is slowly bouncing back following the drastic impact of the COVID-19 pandemic.
Read More$50m in loans disbursed
Around $50m worth of loans have been approved under the $200m scheme announced in the 2021/2022 budget.
Read MoreCruise companies preparing for visitor arrival
Two cruise companies in Nadi are already counting down the days, as they prepare to welcome guests.
Read MoreFDB holds virtual discussions with farmers and businesses
The Fiji Development Bank has been holding virtual meetings with various community leaders including farmers and small businesses.
Read MoreRBF announces further relief for businesses
The Reserve Bank of Fiji Board has announced further enhancements to its Disaster Rehabilitation and Containment Facility.
The changes include an additional funding allocation of $200million, a limited and tiered guarantee targeting MSMEs, streamlined debt recovery processes and the removal of related fees and charges by participating financial institutions for two years.
Read MoreWomen leaders at the Helm of HFC Bank Corporate Banking
HFC Bank has announced an all-women leadership at the Bank’s Corporate Banking division.
The Bank is the first in Fiji to have an “All Women” corporate leader, which is the most prestigious segment in the banking environment.
Read MoreSome pick-up noted from June as more businesses and citizens adapted to the COVID-19 environment – RBF
Economic activity slowed significantly in late April and May as the spread of the Delta variant intensified in the country, worsening Fiji’s socio-economic situation however some pick-up has been noted from June as more businesses and citizens adapted to the COVID-19 environment.
Read MoreBRED Group doubles capital for BRED Bank Fiji to $70 million to boost its growth in the Fijian market
BRED Group is carrying out capital increases of nearly $70 million for its subsidiary BRED Bank Fiji to accelerate the development which will boost its growth in all market segments, including corporate and institutional financing.
Read MoreInvestment Fiji continues to plan
Investment Fiji’s Trade and Investment Advisors are in constant contact with existing investors and exporters in a bid to maintain supply chains as well as seeking new markets.
Read MoreRBF: Liquidity level increase
Liquidity levels in the banking system increased to $1.7 billion at the end of May, mainly as a result of an increase in foreign reserves.
According to the Reserve Bank of Fiji (RBF), foreign reserves increased to $3.1b – sufficient to cover 11 months of retained imports.
Read MoreRBF drops lending rates, banks to pass on to consumers
The Reserve Bank of Fiji has reduced its interest rates for financial institutions that borrow under its Import Substitution and Export Finance Facility, Disaster Rehabilitation and Containment Facility and the Housing Facility.
Read MoreFiji-China Trade Expo creates opportunities
Investment Fiji in partnership with the Pacific Trade Invest (PTI) China and the Chinese Embassy launched the Fiji-China Trade Expo series.
Read MoreNew Caledonia businesses show interest in Fiji
The Fiji and New Caledonia e-trade expo has received a positive response since its launch last month.
Read MorePRB completes its first internal audit
The Public Rental Board has managed to complete its first-ever internal audit to find out where and how it can improve.
PRB Manager Properties Maloni Daurewa says they have been liaising with the Board and committee in terms of implementing the recommendations of the audit.
Read MoreFNPF expected to make announcement on home loan assistance
The Fiji National Provident Fund is expected to make an announcement soon on the home loan assistance passed in parliament in December.
The COVID-19 Response Home Loan Act, allows FNPF members to dip into 50% of their retirement savings to pay off home loans if they have been financially affected by the pandemic.
Read MoreInvestment Fiji Annual Reports reveals successful journey
The performance of Investment Fiji has been successful from the year 2016 to 2019.
This was revealed in their Annual Reports for the same years that was submitted to the Parliamentary Standing Committee on Economic Affairs this morning.
Read MoreBank liquidity close to $1B
Liquidity in the banking sector is close to hitting the billion-dollar mark.
The Reserve Bank of Fiji confirms as of 14th March, banks had accumulated $953 million in cash deposits.
Read MoreMount Sophia Group Introduces TOORAK CENTRAL, Suva’s Newest Inner-City Development
TOORAK CENTRAL is scheduled to officially open in September 2021.
About TOORAK CENTRAL
It is a comprehensive refurbishment of a landmark two-level commercial building, located in Suva’s Toorak district.
152 applications for First Home Grant
The Ministry of Housing has a further 152 applications for the First Home Grant Assistance Programme.
Speaking in the parliament, Minister for Housing, Premila Kumar said that the demand for the grant has been overwhelming.
Read MoreThree multi-million dollar projects approved
Three major building applications worth $28.4 million were approved by the Department of Town and Country Planning last November.
Read MoreDifferent market trend has been developed: Dr Hassan
The property valuers are not that active in the market as they used to be in previous years.
Read MoreAgents urged to re-look at their cost
Real Estate agents have been urged to re-look at their costs due to a decrease in commissions from sales.
Read MoreDrop in property prices: Khan
Property prices have dropped in the country and consumer confidence is at a very low level say Real Estate agents.
Bayshore Real Estate Director Arif Khan says most people are making offers much lower than the valuation price.
Read MorePayment system implemented to recover rates owed
Majority of municipal councils have implemented the payment system to recover the amount of rates owed.
Local Government Minister, Premila Kumar says it’s been noted that a lot of businesses and people with properties are trying to take advantage of the payment system.
Read MoreBanks announce new measures
Days after confirmation that banks are considering interest rates reductions, a number of them have announced new measures.
ANZ has removed loan approval fees for new customers while HFC no longer charges administration fees on first home loans.
Read More2022 will bring economic boom
2022 will be Fiji’s year of growth once COVID-19 is managed and vaccines made available.
Economist, Dr Rohit Kishore says people in Fiji and around the world want to get out of their confined spaces, meaning tourists will return once borders open.
Read MoreBanks increase provisions for high-risk loans
Commercial Banks have increased their provisions for high-risk loans given the mounting deferment of payments due to COVID-19.
Association of Banks Chair Rakesh Ram says, as of September banks have provisioned $100 million as bad or doubtful debts.
Read MoreDeferment of loan repayments on cases-by-case basis
Commercial banks are extending COVID-19 hardship assistance on a case-by-case basis until March 2021.
Association of Banks Chair Rakesh Ram says Fijians who have loans must be able to prove that they are having difficulties making re-payments due to financial constraints brought on by COVID-19.
Read More14.3m trade project for the Pacific
The European Union has signed a new trade project worth 14.3 million Fijian Dollars with the Pacific Island Forum Secretariat.
It aims to increase trade opportunities in the Pacific by strengthening institutional and human capacity in the region.
Read MoreBanks ready to slash interest rates in 2021
Commercial banks have for the first time come out to say they are ready to slash interest rates in 2021.
Read MoreDeferment of loan repayments on cases-by-case basis
Commercial banks are extending COVID-19 hardship assistance on a case-by-case basis until March 2021.
Association of Banks Chair Rakesh Ram says Fijians who have loans must be able to prove that they are having difficulties making re-payments due to financial constraints brought on by COVID-19.
Read MoreBanks increase provisions for high-risk loans
Commercial Banks have increased their provisions for high-risk loans given the mounting deferment of payments due to COVID-19.
Association of Banks Chair Rakesh Ram says, as of September banks have provisioned $100 million as bad or doubtful debts.
Ram adds this figure will increase because COVID-19 isn’t over yet, and will eventually hit the bank’s bottom line.
Read More2022 will bring economic boom
2022 will be Fiji’s year of growth once COVID-19 is managed and vaccines made available.
Economist, Dr Rohit Kishore says people in Fiji and around the world want to get out of their confined spaces, meaning tourists will return once borders open.
Read MoreBanks announce new measures
Days after confirmation that banks are considering interest rates reductions, a number of them have announced new measures.
ANZ has removed loan approval fees for new customers while HFC no longer charges administration fees on first home loans.
Read MoreEconomic output drops due to COVID-19
Various sectors performed well below expectations in 2020 due to the effects of COVID-19.
The Reserve Bank of Fiji in its annual Economic Review states sectoral performances of various industries continued to be subdued well into the end of the year.
Read MoreConsumption spending noted weak outcomes in 2020 while personal remittance inflows have been strong – RBF
The Reserve Bank of Fiji says partial indicators for consumption spending have noted weak outcomes in 2020 and cumulative to November, VAT collections fell by an annual 38.6 %.
Read MoreAs at 31st Dec, liquidity in the banking system stood at $836.8 million – RBF
The Reserve Bank of Fiji says as at 31st December, total liquidity in the banking system stood at $836.8 million.
Read MoreRent freeze extension welcomed
The extension of the rent freeze to 31st December is solely to help Fijians during this difficult economic situation.
The Fijian Competition and Consumer Commission say they understand that many Fijians have either lost their job or working on reduced hours which is impacting their ability to pay rent.
Read MoreMore landowning units should subdivide and lease land that does not currently have any productive use – PM
Prime Minister Voreqe Bainimarama says with more pandemic-driven population movement to more rural regions of the country, more landowning units should subdivide and eventually lease land that does not currently have any productive use.
Read MoreLargest economic contraction on record projected for 2020
The Reserve Bank of Fiji has projected that 2020 would note the largest economic contraction on records at -19 percent.
RBF Governor Ariff Ali says the recovery forecast next year is dependent on the reopening of borders and resumption of international travel.
Read MoreFamilies to bear the full cost of the removal or relocation of their homes under the new Informal Lot Allocation Policy
An informal settler will need to bear the full cost if their homes are required to be removed or relocated under the new Informal Lot Allocation Policy.
The Ministry of Housing and Community Development will be carrying out public consultations on the new policy that will look at how lots are allocated in developed informal settlements.
Read MoreFNPF members can access their General Account to pay their home loan
The CEO of the Fiji National Provident Fund, Jaoji Koroi says under their existing housing withdrawal policy, members can access their General Account to reduce or pay off their home loan, provided their funds will reduce the debt by at least 15%.
Read More$7.5m Investment Development Plans For Uduya Point
Castle Properties is looking at investing $7.5Million on a 16 unit development.
This was confirmed by the company owner and managing director, Vijay Sharma, who said the development, would be next to the Marina Apartment at Uduya Point on Suva Harbour
Read More$1.5m paid out in housing grant
Permanent Secretary Sanjeeva Perera says 121 applications have already been approved.
The Ministry has been receiving a lot of positive response since the announcement of the Programe in the 2020/21 national budget.
Read MoreInformal settlers not allowed to profiteer from subsidized lots
Fijians living in informal settlements who will soon be receiving their 99-year leases will not be allowed to profiteer from the subsidized lots.
Housing Minister Premila Kumar reveals there have been several cases where people who were given subsidized lots have either sold the property, the land is still vacant and in some cases rented out.
Read MoreHunt on for investors
Local Government Minister Premila Kumar says the Suva City Council is on the hunt for investors to develop a commercial centre at the old market site in Raiwaqa.
Mrs Kumar said this would be done through a public private partnership (PPP).
Read MoreGovernment considers FNPF relief for home loans
The Ministry of Economy is now in talks with the Fiji National Provident Fund to provide home loan re-payment relief for FNFP members.
Read MoreKumar and Bo talk about low-cost housing
Discussions about the development of low-cost housing have been held between the Minister for Housing and Local government Premila Kumar and China’s Ambassador to Fiji Qian Bo.
At that meeting, Bo was joined with a representative of construction company – China Railway 1.
Read MoreMaster plan for the Greater Suva and Nadi-Lautoka area will be completed in mid-2021 – Kumar
The Singapore Cooperation Enterprise’s work on the Master Plan for the Greater Suva area and Nadi-Lautoka will be completed in mid-2021.
Minister for Local Government Premila Kumar says it will add significantly to the strategic planning that is needed to successfully plan for future generations.
Read MoreNew ways of planning cities must be adopted says Kumar
There is a need for increased flexibility to accommodate high-density developments.
Local Government Minister Premila Kumar highlighted this during the World Town Planning Day to recognize and promote the role of town planning.
Read MoreRevised Act will end buying, selling & renting of houses in informal settlements – Kumar
Minister for Housing, Premila Kumar says people staying in informal settlements cannot be landlords as they themselves are staying illegally on that land.
Read MoreArbitrary eviction is unconstitutional says Raj
The Human Rights and Anti-Discrimination Commission is pleading with residential landlords to refrain from arbitrarily evicting tenants.
Read MoreReward employees: Akbar
Rewarding your employees is the key. The message from the Minister for Education, Heritage and Arts, Rosy Akbar, was announced during the One Agency Bayshore Fiji Pty Ltd awards night at Tanoa International Hotel, Nadi, past Friday.
Read MoreBanks tighten up on loans
Banks are being more stringent with their loans according to the Reserve Bank of Fiji Board following its meeting earlier today.
RBF governor Ariff Ali says credit conditions have tightened given the current elevated risk levels and depressed economic environment.
Read MoreBlue Lane initiative receives positive response
More than three hundred people have come to Fiji under the Blue Lane initiative in the last few months, opening up some job opportunities.
Read MoreSurvey to gain a better understanding of the financial situations of different segments of Fiji begins
The Reserve Bank of Fiji in partnership with the Fiji Bureau of Statistics, the United Nations Capital Development Fund managed by the Pacific Financial Inclusion Programme and the Alliance for Financial Inclusion has commenced a second national Financial Services Demand Side Survey.
Read MorePRB flats not permanent homes: Kumar
Public Rental Flats are not permanent homes.
Local Government Minister Premila Kumar stressed this while visiting the Vunimoli PRB flats in Labasa.
Read MoreLyndhurst plans to develop a business park
The Lyndhurst Group of Companies is working on developing a business park at the Kalabu Tax-Free Zone.
Read MorePandey Invests More In Fiji
Pandey Investments Fiji PTE Limited is now the major shareholder for the owning entity of the Sheraton Resort and Spa on Tokoriki Island, in the Mamanucas.
Pandey Investments Fiji PTE Limited, a subsidiary of New Zealand based CP Group, has completed settlement to become the major shareholder after negotiations with the former majority shareholder the Meghji Group of companies.
Read MoreFRCS to launch four new online services next month
The Fiji Revenue and Customs Services will be launching four new services on the 3rd of next month.
Read MoreHousing Authority extends COVID-19 relief package assistance
As the country continues to face the economic effects of the COVID-19 pandemic, the Housing Authority will extend its assistance package to affected customers up to 31st December 2020.
Read MoreRBF Governor says Fijian economy is resilient
Fiji’s economy has been resilient in the face of adversities over the past 50-years.
Reserve Bank of Fiji Governor Arif Ali, while launching the commemorative notes and coins for our 50th Independence anniversary says Fiji has been able to stand on its own because of the spirit of unity.
Read MoreReal estate agents not conforming to code of conduct: Khan
There has been an increase in unethical practices by licensed real estate agents not conforming to the professional code of conduct.
Read MoreFijians in maritime and rural areas can now get plans for a 2 bedroom house for free from Ministry of Housing
People living in rural and maritime areas can now get an engineer certified plan for a 2 bedroom house from the Ministry of Housing at no cost to them.
Read MoreHousing Ministry launches new house plan
With climate change expected to increase the intensity of Tropical Cyclones, there’s a need to build houses that can withstand such natural disasters.
Read MoreValuers to be aware of the market trend: Dr Hassan
Valuers Registration Board is calling on the valuers to be aware of the market trend that is being developed because of the COVID-19 pandemic.
Read MoreLiquidity reaches historic high: RBF
Excess liquidity in the banking system reached a historical high of $1.1 billion last month says the Reserve Bank of Fiji.
Read MoreANZ Records 60 Percent Drop In Cash-Over-Counter Transactions
ANz has noted a drop in over the counter cash transactions, as customers move to digital payments, said country head Saud Minam.
Read MoreYoung people encouraged to start their own business
Youth are game changers and influencers with the capability and potential to lead the new normal in this current COVID-19 era.
Read MoreBuilding Permits For The 2nd Quarter Dropped 22.1%: New Statistics Report
The construction industry was set to kick off work valued at $54.3 million for the second quarter of 2020, the Fiji Bureau of Statistics said in its September Report.
The value of construction was however lower than the first quarter of the year, the bureau said.
Read MoreBusinesses in Levuka defaulting on rates
The Ministry for Local Government has identified local and international companies in Levuka that have defaulted on their rates.
Read MoreBusinesses in Levuka defaulting on rates
The Ministry for Local Government has identified local and international companies in Levuka that have defaulted on their rates
Read MoreNow is the time to invest in construction – Construction Industry Council
Construction Industry Council President Gordon Jenkins says now is the best time to construct because prices of material and labour costs are down and people should take advantage of this and get their projects completed.
Read MoreInvestment Fiji banks on staff to boost productivity
Investment Fiji has pledged to ensure its staff are equipped with one-standard commercial and technical knowledge.
Read MoreHousing Authority changing policies to speed up lot allocation work but they do not have many lots available
Housing Authority of Fiji CEO Robert Sen agrees that a lot of time was previously taken for lot allotment but some policies have changed and clear communication is being initiated with the customers in regards to their complaints.
Read MoreTotal export of services declines
There was a decrease of over ninety percent or more than eight hundred and twenty million dollars in the total export of services in June when compared to a year earlier.
Read MoreFNPF to process 66 First Home Buyers Programme applications
The Fiji National Provident Fund will continue to process the sixty-six applications approved for the 2019 First Home Buyers Programme.
The fund had earlier announced that the scheme had ceased and will not be available anymore.
Read MoreFNPF clarifies housing assistance eligibility
The Fiji National Provident Fund says there are five pre-retirement grounds that are still open despite the rollout of the COVID-19 Withdrawal scheme.
Read MoreNon-performing loans could impact economy
Reserve Bank Governor Ariff Ali has stressed that non-performing loans are the most significant source of credit risk to a bank.
Read MoreBank workers union supports interest rate drop
The union representing bank sector workers has weighed in on discussions around lending rates.
Read MoreEmergence of a new market in the real estate sector
With the COVID-19 impact being felt by all the sectors in the country, the Real Estate industry has seen the emergence of a new market.
Read MorePressure on HA to provide affordable housing
More Fijians want to own flats in urban areas which has increased the pressure on the Housing Authority to provide affordable homes.
Read MoreHA Board appoints members of Public Inquiry Committee
The Housing Authority Board has appointed members of its Public Inquiry Committee.
Read MoreTHINK OUTSIDE THE BOX – OWN A HOME
Attorney-General Aiyaz Sayed-Khaiyum encouraged those present at the post-budget discussion; “Fiji’s Economic Recovery Plan” to ‘think outside the box’.
Encouraging Fijians to not wait for too long before owning a home, the Minister for Economy, while speaking at the discussion organised by the Fiji Chamber of Commerce and Industry on 25 July 2020, made this remark about home-ownership which in Fiji is extremely low.
Read MoreReal estate market uncertain of future
The real estate market is clueless as to where it’s heading as the COVID-19 pandemic continues to take a toll.
Real Estate Licensing Board chair Abdul Hassan says with potential buyers economically affected, people are now not able to invest in property, directly affecting agents and the industry.
Read MoreCriteria set for special purpose audit on Housing Authority lot allocation for past 10 years
The Housing Authority of Fiji has confirmed that there is a criteria for the special purpose audit on lot allocation for the past 10 years that will be carried out by the Office of the Auditor-General in Fiji.
Some of the criteria that the audit will focus include review of any lots allotted to current or ex Housing Authority staff, their families during the period and to review such transactions to assess the transparency and appropriate declaration of conflicting interests by relevant staff including the board.
Read MoreFiji should continue to focus on growing sectors like Agriculture even after tourism picks up - Chauhan Drop tourism related taxes and support local companies
Fiji Commerce and Employers Federation President, Sandeep Chauhan says the country should continue to focus on growing sectors like Agriculture even after tourism picks up and also focus on new sectors like call centres, Business Process Outsourcing, repacking of goods for exports and increasing food processing activities.
Read MoreLandlords taking extreme steps to evict tenants amidst pandemic
It has been revealed that some landlords are going to great lengths to evict their tenants following minor disputes.
The Fijian Competition and Consumer Commission has recorded an increase in conflicts between landlords and tenants during the pandemic.
Read More2020/2021 National budget to focus on creating more economic activity
The Permanent Secretary for Economy Makereta Konrote says the 2020/2021 National Budget will be focused on creating more economic activity.
Konrote says one of the important aspects of a budget is to create an enabling environment for the private sector to be able to lead economic recovery after COVID-19.
Read MoreHousing Authority receives 334 applications
The Housing Authority has received 334 applications for COVID-19 assistance. 220 applications are from the Central and 114 from the Western Division.
Read MoreRBF says labour market conditions worsen while consumption and VAT collections continue to contract
The Reserve Bank of Fiji states that overall labour market conditions have worsened due to the weakening domestic economy.
The RBF says a total of 85,959 FNPF members received around $54.2 million under the COVID-19 withdrawal scheme in phase one, while 15,920 members will be paid around $17.5 million in phase two over a period of 10 weeks.
Read MorePRB has not evicted anyone from any of their flats during the COVID-19 period – Patrict Veu
Public Rental Board Acting General Manager, Patrick Veu confirms that no one has been evicted from any of their flats during the COVID-19 period, however people who were earning more than $16,500 and have lost their jobs or are on reduced hours have been reconsidered to stay in their flats.
Read MoreHousing Authority and Public Rental Board appoint new Board members
Lorraine Seeto, Senikavika Jiuta, Roveen Permal, Anabel Ali and Mohit Raj have been appointed as the new board members of the Public Rental Board and Housing Authority.
Read More112 PRB tenants handed eviction notices
Housing Minister Premila Kumar highlighted this while visiting the Natokowaqa PRB flats in Lautoka earlier this week.
Kumar says they have found out that these tenants’ income threshold is higher and they do not qualify to stay in these flats.
Read MoreRISE programme hopes to improve well-being of other settlements
The Revitalization of Informal Settlements and the Environment programme hopes to expand its current operations across the country.
Coordinator Isoa Vakarewa says the programme begins its operations in identifying the need for proper sanitation, waste management and hygiene at informal settlements last year.
Read MoreHousing ‘Scam’: Eight Employees From Housing Authority Sacked
The Housing Authority of Fiji is now under the spotlight after eight of its employees were sacked for allegations of corrupt practices earlier this year.
The eight employees had allegedly set up a company, bearing the same address as the Housing Authority, and were making money to develop plans and land on behalf of its clients.
Read MoreCourt cases await Housing Authority frauds
Fijians who acquired Housing Authority lots through dishonest means will now face legal action.
Read MoreNew Board members for PRB and HAF
The Minister for Housing welcomed the newly appointed board members of the Public Rental Board and Housing Authority of Fiji.
Read MoreMore people vacating rental properties: Dr Hassan
The occupation of rental spaces in the country is taking a dip due to the impact of the Coronavirus pandemic.
The Real Estate Agents Licensing Board has been monitoring the market whereby lots of rental properties are now vacant due to the tight budget of Fijians.
Read MoreIdeal time to invest in stock market: SPX
Chief executive Krishika Narayan says while the overall statistics indicate the market is low, if an investor has extra savings and is thinking of buying shares, this is the right time.
Read MoreBeware Of ‘Illegal’ Home Sales In Squatter Settlements Ministry Warns
Homebuyers are being warned to be cautious about the sale of homes located at sqatter settlements.
Read MoreBusinesses face toughest financial crisis
Large and small businesses are facing their toughest financial crisis with no apparent end in sight.
Read MoreLet us all work together to build confidence and encourage construction activity to boost employment and revenue opportunities – AG
Minister for Economy, Aiyaz Sayed-Khaiyum says all efforts should be focused on building confidence domestically to encourage more construction activity that can result in the creation of jobs.
Read MoreTown Planning Act and Subdivision of Lands Act’s Revision To Address Illegal Development
Illegal developments are rife in Fiji, however, the penalties are low and do not effectively deter people, says Minister for Local Government, Housing and Community Development Permila Kumar.
Read MoreBankruptcy looms for 512 businesses: Survey
More than five hundred local businesses have indicated they may face bankruptcy if the COVID-19 pandemic continues for another six months.
Read More‘Housing Help Available For Loan Clients’
More than 1600 households are occupying Public Rental Board (PRB) flats and 832 households are being assisted by the Housing Assistance Relief Trust (HART), Premila Kumar said.
Read MoreSixty-six businesses closed due to COVID-19 crisis
Sixty-six businesses have closed down due the impacts of the COVID-19 crisis.
Minister for Local Government Premila Kumar says the survey conducted by municipalities highlights the virus has had an adverse effect on Fijian businesses who suffered the consequences of the economic fallout.
Read MoreMore job lay offs expected in the coming weeks in the tourism industry
As the tourism and hotel business transitions into the next phase of survival, operators involved in the tourism industry will be considering extended Leave Without Pay options, terminations and redundancies in the coming weeks.
Read MoreFCCC assists 252 tenants
The Fijian Competition and Consumer Commission has assisted 252 tenants who have been impacted due to the COVID-19 crisis.
Read MoreANZ not in a business of repossessing customers’ properties, will continue to work with their customers – Minam BSP says it is too early to make a comment
ANZ Fiji Country Head Saud Minam says they are not in the business of repossessing their customers’ properties and will continue to work with their customers till the last resort and this could be through three months, six months or nine months principal and interest deferment.
Read MoreResidents claim no freeze, reduction on weekly rent
Residents in Housing Assistance Relief Trust (HART) villages say a recent statement issued by Government of a rent freeze since March and that rent has been reduced by about 50 per cent is “not true”.
Read MoreBudget to consider more support for emerging SMEs
Economy Minister Aiyaz Sayed-Khaiyum says against the backdrop of the COVID-19 pandemic, this year’s budget purse strings will be tight.
Read MoreFijian economy is expected to decline more sharply than -4.3%
The Reserve Bank of Fiji has stated that the national economy is now expected to decline more sharply than the earlier estimate of -4.3% on account of the catastrophic impact of COVID-19.
Read MoreIncrease in property listings: Khan
The real estate agents have seen a tremendous increase in the listing of the rental properties.
Read MoreThe market has become very challenging: Bayshore Director
The real estate sector has not been spared by the impacts of the Corona-virus that has affected almost every other sector of the economy.
Read MoreHousing Authority gets real estate agents to sell high-end residential, civic and commercial lots
Housing Authority confirms that real estate agents will be marketing, and selling 27 high-end residential, civic and commercial lots, on behalf of the Authority.
Read MoreForeign Reserves Sufficient For Next 6 Months
The Reserve Bank of Fiji says foreign reserves are sufficient to retain imports for the next six months. In its April economic review, RBF said foreign reserves were $2.2 billion and enough to sustain imports for the next 6.9 months.
Read MoreForeign Reserves Sufficient For Next 6 Months
The Reserve Bank of Fiji says foreign reserves are sufficient to retain imports for the next six months. In its April economic review, RBF said foreign reserves were $2.2 billion and enough to sustain imports for the next 6.9 months.
Read MoreLandlords Can Evict Tenants Upon Proper Notice Issued By High Court
Eviction of tenants is only legal if proper notice is provided by the High Court, said the Fijian Competition and Consumer Commission (FCCC) chief executive officer Joel Abraham.
Read MoreArticle of the Week
Amidst the COVID-19 crisis there is some hope for people with bank loans.
Read MorePrime Minister:Financial Opportunities For Squatters
Frank Bainimarama made the remark at the Fifth Urban Forum at the Tanoa International Hotel in Nadi yesterday .
Read MoreVeivauceva Settlement residents a step closer to obtaining land lease
Residents of Veivauceva Settlement in Tacirua are now a step closer to gaining titles for the land they currently occupy.
Read MoreSome major Budget announcements
The 2019/2020 National Budget has been announced with many initiatives focusing on protecting our environment, expansion of ECAL or the Environmental and Climate Adaptation Levy on goods including vehicles, increased duty on new and used hybrid and non-hybrid vehicles, targeted assistance for people, reduced government expenditure and a target of economic growth for straight 11 years.
Read MoreMinistry of Housing to increase supply of housing lots and low cost housing units
Everyone is eagerly awaiting the 2019 National Budget which will be announced tonight at 7.30pm.
Read More
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