Craig Piggott on raising US$100m
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12 hours ago
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Pacific News In Brief For 1 July
Article – RNZ A round-up of news from around the region, including Niue government announcing its budget for 2025. Niue – budget Health, education, social welfare and government salaries have receives a boost in the Niue government's new NZ$12.5 million (US$7.6m) deficit budget. Last week, the island's finance minister announced the largest expenditure of the government is to cover the salaries of its workforce and the cost of social services. TV Niue reported the health department gets the highest increase in this budget of more than $880,000, a 26 percent boost. Cook Islands – firearms Cook Islands Prime Minister Mark Brown has announced several new initiatives aimed at enhancing firearm regulation and safety across the Pa Enua (outer islands). Cook Islands News reported this includes the resumption of police-issued ammunition and plans to simplify the driving licensing process for tourists. Speaking in parliament, Brown confirmed that the Cook Islands Police has reinstated its role as the official supplier of ammunition to the Pa Enua. The move is expected to assist island communities in managing issues such as wild animal control. Papua New Guinea – chicken East Sepik Governor Allan Bird has raised concerns over a drop in chicken sales nationwide. Bird said the government banned the importation of frozen chicken from Australia and New Zealand with the pretext of protecting the Papua New Guinea industry from foreign competitors and diseases. He said it was a short-sighted decision and now as imported chicken stock runs out, the impact is being felt around the country. He said imported chickens retail at about 22 kina ($US5.33) per kilo, while locally produced chickens retail at about 40 kina. Bird said local chicken production will remain expensive because the chicken feed is imported and 80 per cent of the cost of producing a chicken is the feed cost. Samoa – festival A large Samoan festival – the Teuila Festival – has been cancelled this year. The festival, which features cultural performances and the Miss Samoa pageant, has been cancelled to avoid a timing clash with Samoa's general election. The Miss Samoa pageant has been rescheduled, to run from 27 October to 9 November. Fiji – ICC Fijian Nazhat Shameem Khan has been elevated to the topmost prosecutorial position at the International Criminal Court (ICC). The Fiji Times reported the Office of the Prosecutor at the ICC has announced that deputy prosecutors Nazhat Shameem Khan and Mame Mandiaye Niang have taken over leadership, following prosecutor Karim Khan KC's temporary leave of absence. In May Khan, who is British, stepped aside pending the outcome of a United Nations Office of Internal Oversight Services investigation into alleged misconduct. Nazhat Shameem Khan is a Fijian diplomat and former judge. Fiji/PNG – anniversary Fiji's Prime Minister Sitiveni Rabuka is poised to attend Papua New Guinea's 50th independence anniversary celebrations in Port Moresby on 16 September. Local media reports Rabuka praising his PNG counterpart James Marape for his leadership in strengthening the region and expressed Fiji's commitment to maintaining strong diplomatic ties with PNG. Fiji and PNG established diplomatic relations in 1975 and continue to build on their traditional, political, and economic partnership.
Scoop
13 hours ago
- Scoop
Pacific News In Brief For 1 July
Niue - budget Health, education, social welfare and government salaries have receives a boost in the Niue government's new NZ$12.5 million (US$7.6m) deficit budget. Last week, the island's finance minister announced the largest expenditure of the government is to cover the salaries of its workforce and the cost of social services. TV Niue reported the health department gets the highest increase in this budget of more than $880,000, a 26 percent boost. Cook Islands - firearms Cook Islands Prime Minister Mark Brown has announced several new initiatives aimed at enhancing firearm regulation and safety across the Pa Enua (outer islands). Cook Islands News reported this includes the resumption of police-issued ammunition and plans to simplify the driving licensing process for tourists. Speaking in parliament, Brown confirmed that the Cook Islands Police has reinstated its role as the official supplier of ammunition to the Pa Enua. The move is expected to assist island communities in managing issues such as wild animal control. Papua New Guinea - chicken East Sepik Governor Allan Bird has raised concerns over a drop in chicken sales nationwide. Bird said the government banned the importation of frozen chicken from Australia and New Zealand with the pretext of protecting the Papua New Guinea industry from foreign competitors and diseases. He said it was a short-sighted decision and now as imported chicken stock runs out, the impact is being felt around the country. He said imported chickens retail at about 22 kina ($US5.33) per kilo, while locally produced chickens retail at about 40 kina. Bird said local chicken production will remain expensive because the chicken feed is imported and 80 per cent of the cost of producing a chicken is the feed cost. Samoa - festival A large Samoan festival - the Teuila Festival - has been cancelled this year. The festival, which features cultural performances and the Miss Samoa pageant, has been cancelled to avoid a timing clash with Samoa's general election. The Miss Samoa pageant has been rescheduled, to run from 27 October to 9 November. Fiji - ICC Fijian Nazhat Shameem Khan has been elevated to the topmost prosecutorial position at the International Criminal Court (ICC). The Fiji Times reported the Office of the Prosecutor at the ICC has announced that deputy prosecutors Nazhat Shameem Khan and Mame Mandiaye Niang have taken over leadership, following prosecutor Karim Khan KC's temporary leave of absence. In May Khan, who is British, stepped aside pending the outcome of a United Nations Office of Internal Oversight Services investigation into alleged misconduct. Nazhat Shameem Khan is a Fijian diplomat and former judge. Fiji/PNG - anniversary Fiji's Prime Minister Sitiveni Rabuka is poised to attend Papua New Guinea's 50th independence anniversary celebrations in Port Moresby on 16 September. Local media reports Rabuka praising his PNG counterpart James Marape for his leadership in strengthening the region and expressed Fiji's commitment to maintaining strong diplomatic ties with PNG. Fiji and PNG established diplomatic relations in 1975 and continue to build on their traditional, political, and economic partnership.
Scoop
13 hours ago
- Scoop
UN Report Highlights Urgent Financing Solutions To Achieve The SDGs In Asia And The Pacific
A new report from the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) offers over 40 innovative and actionable strategies for countries in the region to close the development financing gap. This comes as financial and geopolitical pressures across the region threaten to further derail progress on poverty reduction, climate action and economic recovery. Developing countries globally now face an annual shortfall of between US$2.5 trillion and US$4 trillion to meet the Sustainable Development Goals. Without major improvements in the way development is financed, many countries in the region risk falling further behind. The sixth edition of ESCAP's Financing for Development report points to longstanding weaknesses in public finance and private investment systems. Many governments in the region continue to face difficulties in raising domestic revenues at the scale needed. Tax structures remain inefficient, and opportunities to tap into wealth and real estate are often underused. At the same time, capital markets are underdeveloped, and private financing rarely reaches high-impact sectors such as clean energy, healthcare or affordable housing. 'Nowhere is this challenge – and opportunity – more urgent than in Asia and the Pacific,' underscored Armida Salsiah Alisjahbana, United Nations Under-Secretary-General and Executive Secretary of ESCAP. She added, 'This is our chance to build a more resilient, equitable and sustainable economy for all. We aim to foster solutions that are regionally grounded, technically sound and financially viable. Unless Asia and the Pacific can lead boldly, the global transition will fall short of expectations.' Public debt distress has also become a growing concern. The report calls for more responsible borrowing, better transparency in how public funds are used, and stronger coordination among creditors to ensure fair and effective debt resolution. The report further recommends closer alignment between sustainable finance and development goals. It also notes that when countries plan investments that support both environmental and economic outcomes, they are more likely to deliver results that benefit people and the planet. 'This report serves as an important guide for governments and regulators in expanding access to financing aimed at sustainable development. It offers effective approaches to ensuring the availability of capital while considering national priorities and specific circumstances,' said Faizidin Qakhkhorzoda, Minister of Finance of the Republic of Tajikistan. He further welcomed the call to strengthen the regulatory framework for sustainable finance, improve disclosure standards and promote innovative financial instruments. The report was launched on 30 June at the Fourth International Conference on Financing for Development in Seville, Spain. It is the first time that ESCAP and partners such as the Asian Development Bank, Climate Bonds Initiative, the International Renewable Energy Agency and the United Nations Framework Convention on Climate Change Regional Collaboration Centre for Asia and the Pacific have collaborated to call for the region's action in areas such as sustainable capital markets, financing the energy transition and developing sustainable project pipelines to close the financing gaps.
