Economy
$4.2m grant for increasing resilience approved
Saturday 23 October 2021 | Written by Supplied | Published in Economy, National
In a continuation of success, the Cook Islands through its Climate Change office working in partnership with Development Coordination Division of the Ministry of Finance and Economic Management, have received approval from the Green Climate Fund (GCF) on October 13 for its Enhanced National Adaptation Plan (ENAP) proposal.
Cooks economy on a ‘knife edge’ despite improved fiscal position
Thursday 21 October 2021 | Written by Al Williams | Published in Economy, National
Government’s net fiscal balance for the year ended June is “better than expected” but warning bells have been sounded.
Agriculture census helps ministry plan
Monday 18 October 2021 | Written by Caleb Fotheringham | Published in Economy, National
An agriculture census which happens every 10 years is set to begin next month, lasting until December, with assistance from the Asian Development Bank.
Tourism industry unfazed by Fiji’s border reopening plans
Tuesday 12 October 2021 | Written by Al Williams | Published in Economy, National
The Cook Islands tourism industry is anticipating a December reopening of the border as Fiji has drawn a line in the sand.
Annual taxpayer debt servicing estimated to hit $27m by 2024
Monday 11 October 2021 | Written by Al Williams | Published in Economy, National
Cook Islands taxpayer annual debt servicing is forecast to cost close to $30 million annually by 2024.
‘Survival’ strategy to be weighed up by Cabinet
Tuesday 5 October 2021 | Written by Al Williams | Published in Economy, National
A ‘survival’ cash management strategy worth millions of dollars of borrowed money, which goes to Cabinet today for approval, has been described as a ‘scary situation’.
‘Business people are passionate about Cook Islands’
Monday 4 October 2021 | Written by Al Williams | Published in Economy, National
It’s been another year of challenges, change and uncertainty for former Cook Islands Chamber of Commerce chairman Fletcher Melvin who stepped down from the role last week.
Cooks ‘still in survival mode’, says new Chamber chairman
Saturday 2 October 2021 | Written by Supplied | Published in Economy, National
New Cook Islands Chamber of Commerce chairman Phillip Henderson says he is focussed on getting the border reopened and tourism back on its feet.
Chamber partners with Australian counterpart
Friday 1 October 2021 | Written by Supplied | Published in Economy, National
Cook Islands Chamber of Commerce signed a Memorandum of Understanding with the Australia Pacific Islands Business Council in a combined effort to “support and promote inclusive economic development and employment growth in the Cook Islands”.
Businesses question sustainability as Govt pays $4.1m in subsidies
Thursday 30 September 2021 | Written by Alana Musselle | Published in Economy, National
Businesses are again grateful for the second round of government wage subsidy support launched due to border closure and suspension of the quarantine free travel bubble with New Zealand in August. However they’re simultaneously doubtful of a future in reliance on government handouts, asking if they are economically sustainable.
Webinar on destination recovery and re-opening
Tuesday 28 September 2021 | Written by Alana Musselle | Published in Economy, National
Cook Islands Tourism will take part in an informative webinar on destination recovery and re-opening tomorrow.
Tourism industry calls for review of border strategy
Friday 24 September 2021 | Written by Caleb Fotheringham | Published in Economy, National
The tourism industry wants government to review its border strategy after reports that New Zealand may never be able to achieve zero community cases.
Rent holiday for market vendors
Thursday 23 September 2021 | Written by Caleb Fotheringham | Published in Economy, National
Punanga Nui Market vendors will receive a rent holiday beginning this week and lasting until the end of October.
Further support for business
Tuesday 21 September 2021 | Written by Supplied | Published in Economy, National
Further to the announcement two weeks ago and with the current border closure in mind, the Prime Minister and Minister of Finance Mark Brown is pleased to announce one further round of the Business Grant for October.
Workers lured to New Zealand with higher pay
Monday 20 September 2021 | Written by Emmanuel Samoglou | Published in Economy, National
Local businesses continue to struggle to find employees and the situation is only set to get worse as more local workers are recruited for work in New Zealand, where they can earn higher wages and possibly find a path to residency.
Runway repairs restart following multiple delays
Saturday 18 September 2021 | Written by Al Williams | Published in Economy, National
Runway repair work at Rarotonga International Airport has picked up again following multiple delays.
Will Cook Islands have to learn to live with Covid-19?
Saturday 18 September 2021 | Written by Caleb Fotheringham | Published in Economy, Health, National
Countries around the world are ditching lockdowns and slowly opening borders. Life in the United Kingdom has minimal restrictions, Australia has a plan to get life normal-ish again and even New Zealand has indicated slowly opening up to the world in the first quarter of 2022. So does the Cook Islands also need to learn to live with the virus or could we forever keep our zero tolerance approach?
Chamber welcomes support but challenges remain
Thursday 16 September 2021 | Written by Emmanuel Samoglou | Published in Economy, National
Government is being commended by the Chamber of Commerce in responding swiftly with aid after the latest border closure, however challenges remain for businesses currently grappling with zero tourists.
Border closure leaves vendors with piles of produce
Thursday 16 September 2021 | Written by Alana Musselle | Published in Economy, Local, National
Scenes from the quiet streets of Rarotonga as borders remain closed.
Government closer to announcement on seabed mineral exploration
Wednesday 15 September 2021 | Written by Emmanuel Samoglou | Published in Economy, National
The Cook Islands Government is moving forward with a process to potentially issue exploratory licenses to companies interested in mining the ocean floor as international conservationists, diplomats, and scientists call for a moratorium on all deep sea mining activities.
