Economy
$2 million grant to revive tourism in Cook Islands
Wednesday 3 November 2021 | Written by Supplied | Published in Economy, National
Cook Islands has been handed $2 million in an effort to support tourism and related health infrastructure.
Tourism can bounce back better, says new regional study
Wednesday 3 November 2021 | Written by Caleb Fotheringham | Published in Economy, National
The tourism sector in the Pacific including the Cook Islands has been significantly damaged by Covid-19 but there is potential for positive transformation, says the Asian Development Bank’s Pacific Private Sector Development Initiative (PSDI).
Superfund shows interest in investing domestically
Wednesday 3 November 2021 | Written by Caleb Fotheringham | Published in Economy, National
The Cook Islands National Superannuation Fund (CINSF) made an offer to purchase Government’s stake in Vodafone Cook Islands Limited in a bid to invest domestically.
Businesses frustrated as support grant payments delayed
Tuesday 2 November 2021 | Written by Sian Solomon | Published in Economy, National
Business owners have expressed frustration over the delay in receiving support grant payments from the government.
Business confidence survey assists government planning
Saturday 30 October 2021 | Written by Rashneel Kumar | Published in Economy, National
Cook Islands businesses are being called on to join a confidence survey in a combined effort to provide the “true” economic impacts of Covid-19 associated with tourism.
‘Expect the floodgates to open’
Thursday 28 October 2021 | Written by Caleb Fotheringham | Published in Economy, National
The nation is on the brink of an economic collapse which could lead to a mass exodus similar to that of 1996, say Cook Islands business leaders.
$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.
