Economy Archive June 2011

Mr Lilo says that the increase in interest to members is largely due to positive growth in NPF's diverse business portfolio, both locally and abroad.

NPF Declares Huge Interest Payout

The National Provident Fund (NPF) has announced an 8.75 % interest payout to its members.

SIG Committed to RAMSI Consultative Process

The Solomon Islands Government (SIG) has reaffirmed its commitment to the Enhanced Consultative Mechanism (ECM) on the Regional Assistance Mission to Solomon Islands (RAMSI).
Hon Richard Marles MP and others inspect the AusAID-funded refurbishments of dormitories at Kukudu Adventist High School, Kukudu village, Kolombangara, Western Province, Solomon Islands.

Australia Supports Education in Solomon Islands

Australian support for school programs in Solomon Islands is helping ensure more young people have access to quality education and skills training.
UNICEF estimates in 2010 indicated that the Solomon Islands has only achieved less than 50 percent of the target level of MDG four and five.

Solomon Islands May Fall Short on MDG

Solomon Islands are among some of the Pacific countries that are unlikely to achieve Millennium Development Goals (MDG) four and five by 2015.

Solomon Waters Closed to Foreign Purse Seiners

Solomon Islands have closed its waters from all purse seine fishing following a Cabinet decision recently.

Madame Philip Initiate Fundraising for Rural Clinics

The Prime Minister's wife, Madame Margaret Philip is leading a series of fundraising drives with other Parliamentarians' wives to raise funds to assist rural clinics with maternal equipment.
Strategic Airlines who normally serve this route has also sent its airline for heavy maintenance.

Brisbane Routes to Experience Disruption

Plans for the next few days of flights to and from Brisbane will be affected whilst the Solomon Islands Airlines seeks alternative aircraft to service its prime Australian services.

Council Has New City Clerk

Mr. Paul Coffey has been appointed as the new Acting City Clerk to the Honiara City Council.

State Owned Entreprises May Experience Change

Finance Minister Gordon Darcy Lilo has acknowledged that the past year or so has been a turning point for key governance provision of the State Owned Enterprises (SOE) Act.
Kolombangara Island, where 20 thousand hectares have been dedicated for conservation.

Philip Pledges Support to Kolombangara Intiative

The Solomon Islands Prime Minister, Hon. Danny Philip has pledged support Kolombangara landowner's conservation initiative.

Dollar Appreciation Needs Guidance

A Professor from the University of the South Pacific, School of Economics, warns that Solomon Islands could be harmed by the 5% appreciation if not handled properly.

Effects of Urbanization on Solomon Islands

If the Solomon Islands urbanization reaches 50 percent by 2050, at least half-a-million people will be residing in Honiara.
Under the new arrangements, cattles will be brought in from Vanuatu.

Cattle Import Set for September: Hon. Sandakabatu

First importation of cattle will eventuate in September, according to the Minister of Agriculture and Livestock Development (MALD), Connelly Sandakabatu.

Corruption Rife in the Solomons: AG Ronia

Corruption in the country is extremely rife in the country but there is no independent body to directly deal with the issue.
Hon. Philip stated that the initiative to step in was follwing his visit to Russell Island earlier this year.

Company Dispute Close to Being Resolved

The Solomon Islands Prime Minister Danny Philip announces that his government is a step closer to resolving the 8 year old Russell Islands Plantation Estate Limited which was forcefully shut down as a result of a dispute in 2004.

SolBrew Sells Majority Shares

Asia Pacific Breweries Limited (APB) announces the completion of the acquisition of 97.69% of the capital shares of the Solomon Island Breweries Limited for approximately $21.5 million.

McCully Commends Appreciation in Solomon Dollar

The New Zealand government is surprised that Solomon Islands economy appreciates at a time when most of the pacific region are struggling to get back on their feet economically.

Minister Pleased with Festival Preparations

Solomon Islands Minister of Culture and Tourism Hon. Samuel Manetoali has expressed confidence and satisfaction with preparations toward the 11th Festival of Pacific Arts next year.
Honiara City will receive a facelift as part of the plans for the Festival of Arts in 2012.

Millions Received for 2012 Festival of Arts

The National Government has allocated a total of SB$39.5 million this year for preparations toward hosting the 11th Festival of Pacific Arts in Solomon Islands in July next year.

Officials Head to Marovo to investigate Marine Deaths

Officials are heading to Marovo lagoon in the Western Province of the Solomon Islands to investigate why schools of fish are dying.

Man Gets 8 years for Assaulting Wife

A man has been sentenced to eight years imprisonment for serious assaults on his wife.

Munda Police Arrest Foreign Plane

Munda Police in the Western Province have arrested and detained a Cessna air craft early this morning after a tip off from Honiara Immigration.

New Zealand Minister to Visit Solomon Islands

The New Zealand foreign minister, Murray McCully, has begun his tour of Melanesia starting with Vanuatu and then to be followed by Solomon Islands.

Asutralian Ferry gets Second Life in Solomons

One of Sydney's famous harbour ferries will soon be sailing from its home port to the Solomon Islands.

Solomon Islands Strengthens Currency

The Minister of Finance and Treasury announced a five percent appreciation of the Solomon Islands dollar.

Stirling Islanders Offer Land for Military Base

A landowner of Stirling Islands, Ronnie Kidoe, says he had written to the government offering Mono Island as a possible location for the government's planned regional military base.
Dr Sikua says the action by the NCRA Government has the potential of straining Solomon Islands diplomatic and bilateral relations with Japan.

Government Should Honor International Tender Process

Opposition leader, Dr Derek Sikua, has condemned the Government for disrespecting the International Tender Board's decision to award Sumitomo Company of Japan the license to carry out nickel prospecting on San Jorge Island in Isabel Province.

High Court Defers Judgment on Namson's Petition Case

The High Court has reserved judgment on a strike out application by West Honiara MP Namson Tran against his election petition.
Wartsila's Head Office in Finland.

SIEA Blames Suppliers for Power Outage

The Solomon Islands Electricity Authority (SIEA) says customers will continue to experience power outages until it can get its spare parts from one of its major overseas supplier.
United Nations Resident Coordinator and UNDP Resident Representative Knut Ostby.

2010 MDG Progress Report Launched

The 2010 Millennium Development Goals (MDG) Progress Report has been officially launched.

Russell Island Landowners Calls for Government to Stop Negotiations

Landowning groups in Russell Islands are calling on the national government to halt further negotiations and payment intended for indigenous Russell Islanders until landowning groups settle their differences and change their current leadership.

Darcy Welcomes Debt Write-Off

The Minister for Finance and Treasury, Hon Gordon Darcy Lilo has welcomed a European Investment Bank (EIB) debt write-off in respect of the Development Bank of Solomon Islands (DBSI) outstanding debts to the EIB.

Taiwan Praises Government on Funding Reform

The Republic of China (ROC) has praised the Solomon Islands NCRA Government's reform initiative to channel ROC's constituency support through the Ministry of Rural Development and Indigenous Affairs rather than through the 50 Members of Parliament.
Prime Minister Danny Philip together with Ambassador Wu during the ceremony last week.

Taiwan Releases Funds to Solomon Islands

The Republic of China (Taiwan) Ambassador to Solomon Islands H.E. Roy Wu has formally released the first payment of SB$13.8 million for the 2011 Funding Support to Solomon Islands.

Hon. Rini in Brussels for ACP

The Solomon Islands Minister of National Planning and Aid Coordination, Hon Snyder Rini is in Brussels this week for the 93rd Session of the ACP Council of Ministers and the 36th Session of the African, Caribbean and Pacific (ACP) Council of Ministers.
Domestic flights to the Western Province has proven very expensive, thus a hindrance to Tourism.

Calls for Upgrade to Munda Airport

Solomon Islands Tourism Operators in the Western Province have urged the Government to think seriously about upgrading Munda Airport into International Standards to boost their visitor arrivals.
Fatboys in the Western Province was one of the tourism hotspots visited by the Minister and his delegation.

Tourism Minister Satisfied with Western Tour

The Solomon Islands Minister of Tourism and Culture, Hon. Samuel Manetoali expressed satisfaction with his three days official visit to parts of Western Province including the capital Gizo.