Business Briefs - North Edition
Business Briefs - North Edition
Palau
The Magic Land Circus came to Palau in late June, and stayed. And stayed some more. The run of the circus in Palau has proved so popular that the ringmaster, Bruno Loyale, opted to extend their visit by five days, and then by another four days. The circus features acts from around the Pacific Rim, and three child-size midway rides. They packed in the crowds every night despite poor weather and the audiences thrilled to the slack wirewalker, foot juggler and chair balancer. Magic acts involving guillotines and electric skill saws delighted and amazed the audience while the volunteers were terrified at the prospect of being cut in half. Majuro, American Samoa and the Federated States of Micronesia are next.
Samoa
Visitor arrivals to Samoa in the first five months of the year rose by 13 percent. Both Polynesian Airlines and Samoa Air have reported noticeable increases in passenger loads with no slowdown in sight. The exchange rate of almost Samoa tala $3.50 to U.S. $1 has helped. Business arrivals saw a 31 percent increase in May. And the Benny Hinn religious crusade brought in more than 3,00 people from overseas in May.
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American Samoa
Evergreen International Airlines reduced its cargo flights to American Samoa from twice- to once-a-week flights. The Oregon, USA-based air cargo company, which also carries U.S. mail, warned its customers in early June of the possibility, raising concerns from local vendors who depends on the cargo flights to bring emergency equipment, fresh vegetables and other supplies from Los Angeles and Honolulu.
Samoa
StarKist Samoa’s proposal to set-up a fish-processing plant in Samoa’s coastal village of Asau on the island of Savaii is on hold while an economic and environmental impact study is being conducted. Asau is a coastal village in the northwestern part of Savaii with a man-made harbor. The two-fold project includes processing and freezing albacore in Asau by a work force of about 100 people. The frozen albacore will be shipped to American Samoa for canning and export. Phase two involves a fish loining process, a more involved process that will eventually employ more than 1,000. Asau has been largely supportive of a project that will provide needed jobs, but environmentalists in Samoa have raised concerns over the negative impact on the surroundings when the project is up
and running.
N. Mariana Islands
The recently implemented Investment Incentive Act is getting results. Baldyga Group International, the company behind the Sand Castle Entertainment Complex in Guam, said it will invest over $1 million in the CNMI if it gets incentives under the Qualifying Tax Certificate Program. Baldyga Group executives said they intend to take advantage of the incentive package offered by CNMI law by building a Las Vegas-style entertainment facility. The new law gives companies 100 percent tax rebates of up to 25 years.
Guam
Continental Micronesia reports that its on-time performance for May 2001 was better than all of the nation’s leading air carriers. Continental Micronesia completed 93.4 percent of its flights within 14 minutes of schedule. The top major U.S. carrier in on-time performance for May was Continental Airlines, which reported an on-time performance of 86.1 percent. Continental Micronesia President Bill Meehan attributes the performance to the airline’s employees in the Pacific. “Despite facing day-to-day challenges unique to our area we are able to consistently accomplish great results,”
he said.
Hawaii
Outrigger Enterprises unveiled a $300 million plan in July to redevelop its 7.9 acres of properties in the Lewers-Kalia area of Waikiki into a new retail entertainment and hotel project. The existing crowded streets will be transformed into a “pedestrian-friendly place featuring a central gathering place area, wider sidewalks, lush tropical foliage and water features, and architecture reminiscent of vintage Waikiki,” the hotel chain said.
Fiji
The Fiji government in June ended the monopoly on Internet services by issuing licenses to five new companies. Information Minister Ratu Inoke Kubuabola said the move resulted from concern about the high local charges for Internet by Fiji Telecom. University of the South Pacific Vice Chancellor Savenaca Siwatibau also criticized the high Internet costs, saying they were a constraint against increased productivity and rapid economic growth. The monopoly situation was preventing USP students and staff from gaining access to higher speed Internet access that would insure more effective use,
he said.
