Minimum wages increase today Fijis national minimum wage rate increases from 450US225 to 500 US250 an hour from today Minimum wages in ten different categories of work under the National Minimum Wages Regulations have also increased above the 5 per hour rate The Fiji Government through the Ministry of Employment said it is committed to ensuring that workers enjoy decent wages through periodic reviews The Minister for Employment Productivity and Workplace Relations Agni Deo Singh emphasised that the ministry would continue with its enforcement and compliance to ensure that the minimum wage implementation is complied with by all employers IMF Mission to Fiji notes progress continues to flag debt Good progress has been made over the past year to address important challenges said the International Monetary Fund in its concluding statement on a mission to Fiji The IMF team led by Alasdair Scott held discussions with the Fijian authorities and other stakeholders in Suva and Nadi Good progress has been made over the past year to address important challenges said Scott Fiscal consolidation has advanced while on the structural front delays in the approvals of worker permits have fallen But public debt remains high Noting global economic conditions including trade frictions disruption to foreign direct investment and higher inflation the IMF said The direct effects in Fiji from higher tariffs on other countries are likely to be small But there is potential for a slowdown in external demand especially in terms of tourist arrivals goods exports and remittances On the upside greater structural reform momentumparticularly to modernise infrastructure enhance human capital and create a businessfriendly environmentwould raise potential growth strengthen public finances and improve external sustainability Movers and Shakers Fatiaki Gibson has been appointed as the Chief Executive Officer of Energy Fiji Limited EFL A former board member he replaces longtime CEO Hasmukh Patel Gibson is an energy specialist consultant with 34 years of experience and has previously worked in Vanuatu and at the Asian Development Bank The South Pacific Stock Exchange SPX has announced the appointment of Lorraine Seeto as an Independent Director of the SPX Board Seeto brings a distinguished track record in the financial sector including being the first female to hold a senior executive role at the Reserve Bank of Fiji and serving as an advisor to the Governors BSP launches Pacific wide rebrand The three kundu drums are gone BSP has launched a new logo that it says better reflects its regional nature BSP Financial Group CEO Mark Robinson says the brand reflects its ambition with the identities of PNG Fiji Samoa Solomon Islands Tonga Vanuatu and Cook Islands represented At the Papua New Guinea brand launch Group Chairman Robert Bradshaw said Bank em blo yumi nau yumi takeover lo Pacific it is our bank and now we have taken over the Pacific The logo represents the kundu hook waves and a bird in flight SPX encouraged by Dividend Reinvestment Plans The South Pacific Stock Exchange SPX is encouraged by the increasing adoption of Dividend Reinvestment Plans DRPs a strategic move that benefits both listed companies and investors Pleass Global Limited SPX PBP has quoted an additional 35543 shares on the SPX trading platform at 754 per share as part of its Dividend Reinvestment Plan DRP During the DRP period existing shareholders had the opportunity to acquire new shares without incurring transaction costs priced at 7543 per sharea 5 discount to PBPs prevailing market price On February 28 2025 PBP declared a final dividend of 011 per share totalling a dividend payout of 787567 The SPX says it remains committed to guiding listed entities in the implementation of DRPs supporting the growth of Fijis capital market and aligning with global best practices Fiji Airways joins oneworld Alliance Fijis national airline Fiji Airways is the oneworld Alliances latest full member giving passengers access to a network of nearly 700 airport lounges globally alongside other benefits The introduction of Fiji Airways marks an important strategic step for our alliance as we connect even more people places and experiences than ever before said Nat Pieper CEO of oneworld Fiji Airways customers will benefit from oneworlds global reach of more than 900 destinations priority services and premium lounge access and were thrilled to welcome them to the oneworld family Still at Fiji Airways Air France Industries KLM Engineering Maintenance AFI KLM EM has extended its A330 component support contract with the national airline until 2031 Andre Viljoen Managing Director and Chief Executive of Fiji Airways said This extension is crucial for us as it ensures the continued reliability and efficiency of our A330 fleet which is central to our operations Fiji at the Special Pacific Islands Forum Economic Minister Meeting Fiji was represented at the Special Pacific Islands Forum Economic Minister Meeting in Nukualofa Tonga last week where ministers emphasised the importance of three regional initiatives the Pacific Roadmap for Economic Development PRED the Climate Finance Access and Mobilisation Strategy CFAMS and the establishment Treaty for the Pacific Resilience Facility PRF These initiatives aim to boost economic growth secure climate funding and establish a regional financing system for climate resilience Meanwhile Fiji Airways had confirmed its sponsorship of Tourism Super Week 2025 which will be held in Nadi 59 May 2025 RBF monetary policy rate unchanged The Reserve Bank of Fiji Board maintained the Overnight Policy Rate OPR at 025 at its meeting on 27 March The Governor and Board Chairman Ariff Ali stated that the twin monetary policy objectives inflation and foreign reserves remains comfortable underlining this months monetary policy decision On developments in the Fijian economy the tourism industry saw a slow start in the first two months of 2025 with visitor arrivals declining by 38 annually Partial indicators suggest that the performance of resourcebased sectors and aggregate demand has broadly been favourable up to February Positive consumption activity evident in high domestic VAT collections and doubledigit expansion in new consumptionrelated loans continues to be supported by inward remittances and higher incomes Investment indicators such as commercial banks new loans for investment purposes and building permits issued signal an improvement in activity Westpac Fiji renews partnership with Leadership Fiji Westpac Fiji has reaffirmed its commitment to leadership development in Fiji by renewing its partnership with Leadership Fiji for another three years The partnership aims to shape the next generation of leaders equipping them with the knowledge and skills needed to drive change in Fijis social and economic landscape