Business Briefs
Business Briefs
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Over 500 businesspeople and others joined Secretary of the Interior Gale Norton and all of the Governors and Members of Congress from Guam, the U.S. Virgin Islands, the Commonwealth of the Northern Mariana Islands and American Samoa at a Sept. 8 conference to promote business and investment opportunities in the U.S. territories. - ADVERTISEMENT - The conference drew companies from 33 states and territories, including California, New York, Florida, Texas, Illinois, Ohio, Washington, Hawaii, South Carolina, Georgia and Puerto Rico. Among the industries represented were environmental technology, information technology, construction, education and training, real estate development, tourism, shipping and professional services. Secretary Norton told the gathering that while each of the territories is unique, they all have common advantages. Also addressing the conference were Togiola Tulafono, governor of American Samoa, Juan N. Babauta, governor of the Northern Marianas, Gov. Charles Turnbull of the U.S. Virgin Islands, Congressman Eni H. Faleomavaega of American Samoa, Congresswoman Donna Christiansen of the U.S. Virgin Islands, Congresswoman Madeleine Bordallo of Guam, Pedro A. Tenorio, Washington Resident Representative from the Northern Marinas, Deputy Assistant Secretary of the Interior David B. Cohen and Nikolao Pula, Director of the Department of the Interior's Office of Insular Affairs. Gov. Felix Camacho of Guam also joined the conference. -SW
U.S. Intelsat, a global satellite communications company providing services in over 200 countries and territories, reports its shareholders have approved its proposed acquisition of six satellites and orbital location rights from Loral Space & Communications Corp. at a shareholders meeting held in August. Intelsat is a prominent telecommunications provider in the Pacific region. The sale of the Loral satellites is being handled by a U.S. Bankruptcy Court. -SW
Fiji Emperor Gold Mines, one of Fiji's largest private employers, says a planned new power plant at its Vatukoula mine could save the company US$5 million a year in operating costs. That would be good news for a company that has suffered a production downturn and major losses in the June quarter. Emperor's Managing Director Greg Starr says the new power plant could have a very significant impact on Emperor's bottom line. -Radio Australia The Fiji film industry has attracted more customers. The making of Anaconda II has apparently attracted more projects for the Fiji Audio Visual Commission with the announcement of another project by Canadian-based Modern Cartoons Inc. and the local tertiary institution, the Fiji Institute of Technology. The movie based on an Internet game Elf Bowling, has also attracted about 10 local investors for its funding-one stands to gain with a 150 percent tax concession and 60 percent of the income derived from their investment will be exempted from tax. Another sector poised to gain immensely is the school's recently established animation studio. Some 50 students will assist U.S. animation experts should the project get off the ground. -FijiLive.com The current construction boom has been further boosted by a proposed five-star hotel on the Suva waterfront; a project that will see a 10-story building to house 500 first-class rooms with a state-of-the-art conference center. American-based Harbour Centre Development Corporation proposed to spend at least US$100 million and create 2,700 jobs during and after construction. Four companies were vying for the hotel license, which the Suva City Council offered the Americans who are expected to have representatives here for another four months, finalizing details. Harbour Centre Development Corporation has hotel properties in Asia, Australia and America. Fiji Hotel Association chief executive officer Olivia Pareti and Fiji Visitors Bureau boss Viliame Gavoka were both ecstatic with the development. The project augers well with FVB's present focus on increasing room numbers. -FijiLive.com
Guam Efforts to legalize casino gambling in Guam intensified as the pro-casino group, Citizens for Economic Diversity, submitted legislation to the Guam Legislature requiring a special election permitting voters to determine the issue. The group had submitted a petition in October, 2002 that requires their proposed casino legalization bill be placed before Guam's voters. On Aug. 18, the Guam Hotel and Restaurant Association announced its support for the pro-casino efforts. -FW Wireless broadband Internet is now available to many Guam customers. IT&E now offers the service to customers in the densely-populated central areas of Hagatna, Tamuning and Tumon who are in line-of-sight of the company's towers. Transmission also reaches customers in several other central villages and the company is expanding service areas. Company technicians install a rooftop antenna, which is wired to a proprietary interface box with an ethernet connection to the customer's computer. Two other Guam Internet providers, E.C. Communications and GuamCell both said they intend to provide a similar service within the next year. -FW
Samoa Samoa Prime Minister Tuilaepa Sailele Malielegaoi was the keynote speaker as the Samoa Observer newspaper marked its 25th anniversary with a big night of celebrations in Apia. Tuilaepa hailed the work of award-winning editor-in-chief Savea Sano Malifa and publisher Muliagatele Jean Malifa and said: "We appreciate the important role of the media and the Samoa Observer in moving our country forward." More than 700 invited guests from all sections of the community filled Hotel Kitano Tusitala's main fale. The Samoa Observer was launched by author, poet and journalist Savea in August 1978 as a small weekly, largely produced on a kitchen table. It has been built into Samoa's major news media organization. -PINA Nius
Palau Tourism in Palau has rebounded with a vengeance since the travel ban was lifted at the end of June. Visitor numbers in July rose by 32 percent as compared to July 2002. Significantly, July 2003 figures rose 240 percent over the previous month of June 2003. Taiwan led with 3,307 visitors, or 56 percent of the market. Japan, normally the lead market, accounted for 25 percent. The outlook for August remains good with airlines reporting near capacity bookings from Taiwan and solid bookings from Japan. Visitor numbers from the United States and Europe remain stable but low compared to Asian visitors. -NC
Kosrae Continental Micronesia's cargo sales division has lowered the amount that Kosraean farmers must pay to ship foods to Pohnpei, Majuro and Kwajalein. In some cases, as volume increases, the reduced rates will be nearly 50 percent of current trans-shipment costs. The savings will surely expand the export opportunities for Kosrae, which started on Aug. 6 and will continue through Mar. 31, 2004. Sen. John Martin of Utwe, himself a large grower of bananas, oranges, tangerines, mandarins, and vegetables on the seaside mountain slopes of Finsrem, lobbied hard for the concessions by Continental to expand the export opportunities for Kosrae, an island long known in the region for its high quality of citrus and root crops. Martin said that customers in the Marshalls and Guam, where bananas and taro are popular, and importers of citrus in Pohnpei, have already placed nearly double orders due to the new SCR 15 Rates. -OW
Papua New Guinea Serious allegations of misappropriation and mismanagement have been leveled against PNG Harbours Ltd. as the PNG Maritime Workers Industrial Union calls for the suspension of those involved and a full investigation. The union had organized a stopwork meeting at the waterfront, allowing for workers to meet with the union officials including general secretary of the union, Reg MacAlister, and the PNG Trade Union Congress national president John Mahuk, who is also the president of the Maritime Workers Union. Mahuk said the management is alleged to have misappropriated an estimated K1.06 million. -The Nation/ PINA Nius
Contributors: Scott Whitney, Frank Whitman, Nancy Chism and Oliver Wortel |
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