Aspiring entrepreneur, James Mamak, believes teaching children and youth in matters of financial literacy and entrepreneurship will break the spell of escalating unemployment. James, a participant in the recent UNDP supported Entrepreneurship and Innovation Course described it, “as a solution to a rising numbers of unemployed youth and social problems on Bougainville and Papua New Guinea.” The training is aimed at fostering employment and entrepreneurial skills, as well as having access to business development and services from the ‘Bougainville Innovation Hubs.' The Bougainville Innovation Hubs aim is to develop and sustain viable micro, small and medium enterprises across Bougainville and is part of the ‘Sustaining peace through economic empowerment Project" funded by the Government of Japan through a triparty agreement between UNDP and Autonomous Region of Bougainville. Trainings are being conducted by UNDP and Think Place Australia. This partnership is aimed at championing entrepreneurial spirits with focus of education, entrepreneurship and microfinance. Through the Innovation Hubs, women and youth from Bougainville can begin their entrepreneurial journey, improve their financial literacy, and look to resource themselves with the necessary knowledge and skills towards participating in a digitally focused future. James said the training teaches one to value themselves, understanding their own strengths, weakness and potential to grow. He works as a shipping Supervisor in Buka Town but runs a mobile market stall near his house in Malasang village on the main highway where he sells snacks, cold drinks and flowers to commuters. He said he set this up for his family to subsidise his income to help meet the escalating prices of goods and services. He has been pleased with how much additional money it has brought into his family finances. “In the village, SME’s really work! I believe in it because it helps a lot of families and especially the youth to allow them to generate money. However, this has been purely based on seeing others and imitating what they do,” said James and is teaching his children the value of making and saving money. He added, “With the current economy in the country, it is highly advised that we begin to save at an early age and instil this culture with our youth."

The Papua New Guinea parliament's decision to give Sir Bob Dadae a second term as Governor General has been criticised by many. There had been hopes among some that prominent woman candidate Winnie Kiap might have been chosen. Kiap has had a long and distinguished career as a diplomat. Typically in PNG governors-general have a second term. But RNZ Pacific correspondent Scott Waide said the lack of female representation in leadership positions throughout the country sparked hopes of a woman being appointed to the role for the first time. He said there's been a lot of criticism online of the appointment. "A lot of people want some representation or change in progress, and they are saying why give a former politician a second chance. He's already had his turn. There should be change and they are criticising the government and parliamentarians for not being brave enough to make that choice." In the parliamentary vote Sir Bob Dadae received 71 votes while Winnie Kiap got 33. The third candidate, University of Papua New Guinea law lecturer Stephen Pokawin, was eliminated in the first of three rounds. Source:rnz.com

Nambawan Super Chairman Mr. Reg Monagi, yesterday announced the departure of Mr. Alan Kam, who completed his nine-year tenure on the Nambawan Super Board as an Independent Trustee Director. Mr. Kam joined the Nambawan Super Board in December 2013 and served as the Chairman of the Fund’s Investment Committee for the majority of his tenure on the Board. Mr. Monagi said, “Mr. Kam joined Nambawan Super when it was a K5.2 billion Fund. He contributed immensely to the growth of the Fund’s net assets to over K8.9 billion through his leadership of the Investment Committee. He also led the development of investment strategies that contributed to the improved performance of various asset classes.” “On behalf of Nambawan Super’s Board, Management and Staff, we thank Mr. Kam for his service to the Fund and the Members of Nambawan Super. We also extend our thanks to his family who had allowed him to commit much of his time to the Fund”, Mr. Monagi said. Mr. Monagi also announced the appointment of Mr. Chris Wade to the Nambawan Super Board. “The Board believes that Mr. Wade will be an excellent addition as an Independent Trustee Director for Nambawan Super as his experience and capabilities fit well with the requirements of the role”, Mr. Monagi said. “Mr. Wade brings to Nambawan Super over 20 years experience serving on the Boards of reputable Australian Companies and a further 15 years experience as an Executive for several multi-billion dollar companies in Australia and Asia”. “He offers a wealth of experience; strong distinctive capabilities; and character that the Board believes would greatly benefit Members of the Fund and will be invaluable to achieving the Fund’s aspirations”, Mr. Monagi added. Mr. Wade was selected from a list of very high-caliber overseas based candidates through an extensive recruitment process managed by an independent recruitment agency. The Board employs an independent recruitment process for any new Director which is aligned to its succession plan, requisite skill set assessment and the Bank of PNG Prudential Standards. The Board maintains a ceiling of two overseas based and seven locally based Trustee Directors. Mr. Wade has been appointed for a three-year term, in line with the Bank of PNG Prudential Standards related to Corporate Governance for Authorised Superannuation Funds. Directors can be renewed for additional terms, with a maximum tenure of nine years. Nambawan Super’s Board of Independent Trustee Directors is responsible for the oversight of the Fund to ensure it is managed in accordance with the Principles of Good Governance and that its mandate to invest and grow the savings of Members is executed to the highest standard.

Shady Rest Hotel donated 60 cartons of Dove soap to support the needs of patients admitted to the hospital. Marketing Manager Wesley Watuna stated that a strong community is built on the foundation of good health. “To say we are proud of what our good Friends of POMGen is doing is an understatement. We are thankful to FOPG for accepting our donations, in kind, and more so for a relationship that we look forward to foster for many years to come. We are honored to be a Friend of POMGEN”. Friends of POMGEN thanked Mr. Watuna and his team for their contribution and friendship and look forward to working together to support the operational needs of the hospital. FOPG also extended their appreciation to other corporate friends and individuals who continue to show their support whether it be in cash or kind or responding to our emergency appeals online.

Trukai Industries Ltd under its Trukai brand has renewed its sponsorship of the Hiri Moale Festival’s Vanagi Heau Helulu (canoe) race. Trukai Industries has signed a two-year agreement with the Motu-Koitabu Assembly with an annual sponsorship valued at K60,000, positioning Trukai as the major and naming rights sponsor of the Vanagi (canoe) race, one of the main events of the Hiri Moale Festival. The sponsorship will cover the preparation of the race and prize money for the winners of categories A and B. Trukai Industries Marketing Manager Maryanne Tom said the company was proud to be the major and naming rights sponsor of the Vanagi race once again as this renewed sponsorship demonstrates Trukai’s support for cultural and local sporting activities. “The Trukai Vanagi race is part of the three-day festival and we are excited to be part of it this year following its success last year, therefore, our commitment to another two years,” she said. At Trukai we strive to support community activities that preserve cultural practices and traditions as Trukai’s rich history is also embedded in PNG’s culture,” she reiterated. Chairman of the Motu-Koita Assembly, Dadi Toka Jr, thanked Trukai’s continuous support of the Motu-Koita people. “Trukai has always been a supporter of the assembly’s program and projects and this particular festival is something that the people hold dear to their hearts.” “Thank you to Trukai for being a partner to a cultural event and for keeping the cultural identity of the people alive through the festival.” The three-day festival will showcase the best of Motu Koita culture from the 3rd – 5th March 2023 in the nation’s capital, Port Moresby. It will feature traditional singsing groups, the re-enactment of the arrival of the Lagatoi and the Hiri Hanenamo crowning. The Trukai Vanagi Race will take place on Saturday 4th March 2023. President of the Poreporena Canoe Racing Association and the coordinator of this year’s canoe race, John Pogi, said that there will be a large number of participants this year. “This year, we are anticipating more than 60 canoes from various villages throughout the Motu-Koita area.” Applications to participate in the Vanagi race are now open and will close on February 28th. Participants who are interested can get more information from the Hiri Moale Committee. A total of 45 canoes participated in the Vanagi race last year with the category A winner being Saubolo which won K10,000 while the category B winner Waikato which won K5,000.

The World Health Organization has called for "immediate and concerted action" to protect children from contaminated medicines after a spate of child deaths linked to cough syrups last year. In 2022, more than 300 children - mainly aged under 5 - in Gambia, Indonesia and Uzbekistan died of acute kidney injury, in deaths that were associated with contaminated medicines, the WHO said in a statement on Monday. The medicines, over-the-counter cough syrups, had high levels of diethylene glycol and ethylene glycol. "These contaminants are toxic chemicals used as industrial solvents and antifreeze agents that can be fatal even taken in small amounts, and should never be found in medicines," the WHO said. As well as the countries above, the WHO told Reuters on Monday that the Philippines, Timor Leste, Senegal and Cambodia may potentially be impacted because they may have the medicines on sale. It called for action across its 194 member states to prevent more deaths. "Since these are not isolated incidents, WHO calls on various key stakeholders engaged in the medical supply chain to take immediate and coordinated action," WHO said. The WHO has already sent specific product alerts in October and earlier this month, asking for the medicines to be removed from the shelves, for cough syrups made by India's Maiden Pharmaceuticals and Marion Biotech, which are linked with deaths in Gambia and Uzbekistan respectively. Source: Reuters

Spotify (SPOT) said Monday that it will cut 6% of its workforce to reduce costs, joining tech companies including Amazon (AMZN) and Microsoft (MSFT) in slashing headcount as the global economy slows. In a letter to employees posted on the company’s website, CEO Daniel Ek took full responsibility for the job cuts, which he called “difficult but necessary.” “Like many other leaders, I hoped to sustain the strong tailwinds from the pandemic and believed that our broad global business and lower risk to the impact of a slowdown in ads would insulate us. In hindsight, I was too ambitious in investing ahead of our revenue growth,” he said. The Stockholm-headquartered music streaming business had about 9,800 employees globally as of September 30, according to an earnings report. The company’s stock, which has nearly halved in value over the past 12 months, gained more than 4% in premarket trading in New York. Spotify’s share price has risen 24% since the start of the year, Refinitiv data shows. Over the past few months, major tech companies have swiftly reversed a pandemic hiring spree that saw them add thousands of workers to keep up with a surge in demand from households and businesses for services such as online shopping and videoconferencing. The same companies have recently made deep cuts to their workforces, as inflation weighs on consumer spending and rising interest rates squeeze funding. The demand for digital services during the pandemic has also waned as people return to their offline lives. Over the past three months, Amazon (AMZN), Google (GOOGL), Microsoft (MSFT) and Facebook (FB)-parent Meta have announced plans to cut more than 50,000 employees from their collective ranks. ‘Unsustainable’ The recent cuts in most cases amount to a relatively small percentage of each company’s overall headcount, essentially erasing the last year of gains for some while leaving them with enormous workforces. Spotify’s decision to shed about 590 jobs is part of a wider reorganization to improve efficiency and “speed up decision-making,” according to Ek. As part of the changes, engineering and product work will be centralized. Chief content officer Dawn Ostroff had also decided to leave the company, Ek said. Spotify reported a loss of €228 million ($248 million) in its most recent financial quarter through September 30, as operating expenses shot up by 65%, according to a company presentation to investors. In 2022, operating expenses grew at twice the rate of the company’s revenue, Ek said. “That would have been unsustainable long-term in any climate, but with a challenging macro environment, it would be even more difficult to close the gap,” he told employees in Monday’s letter. “As you are well aware, over the last few months we’ve made a considerable effort to rein-in costs, but it simply hasn’t been enough.” Source: CNN Business

Japan's prime minister says his country is on the brink of not being able to function as a society because of its falling birth rate. Fumio Kishida said it was a case of "now or never." Japan - population 125 million - is estimated to have had fewer than 800,000 births last year. In the 1970s, that figure was more than two million. Birth rates are slowing in many countries, including Japan's neighbors. But the issue is particularly acute in Japan as life expectancy has risen in recent decades, meaning there are a growing number of older people, and a declining numbers of workers to support them. Japan now has the world's second-highest proportion of people aged 65 and over - about 28% - after the tiny state of Monaco, according to World Bank data. "Japan is standing on the verge of whether we can continue to function as a society," Mr Kishida told lawmakers. "Focusing attention on policies regarding children and child-rearing is an issue that cannot wait and cannot be postponed." He said that he eventually wants the government to double its spending on child-related programmes. A new government agency to focus on the issue would be set up in April, he added. However, Japanese governments have tried to promote similar strategies before, without success. In 2020, researchers projected Japan's population to fall from a peak of 128 million in 2017 to less than 53 million by the end of the century. The population is currently just under 125 million, according to official data. Japan has continued implementing strict immigration laws despite some relaxations, but some experts are now saying that the rules should be loosened further to help tackle its ageing society. Falling birth rates are driven by a range of factors, including rising living costs, more women in education and work, as well as greater access to contraception, leading to women choosing to have fewer children. Last week, China reported its first drop in population for 60 years.   Source: BBC

Pacific Industries Ltd donated 325 cartons of Pepsi Max to the staff of Port Moresby General Hospital. This is to recognize and appreciate the work and efforts of the staff every year. PI National Trade Activation Manager Ms. Christine Miria expressed that they wanted to do this donation to show their appreciation towards the staff of PMGH and to also fulfil their commitment to community based social responsibility to the hospital. She added that, “We hope the staff will enjoy a can of PEPSI Max while on shift break and we are happy to make this possible through Friends of POMGEN. Friends of POMGEN was on site for the hand – over thanked Pacific Industries for their continuous support and friendship. FOPG said that this was not the first time Pacific Industries have donated to the hospital through Friends of POMGEN. We are just truly thankful for the partnership. Each ward will be given 2 cartons each for the staff to enjoy as complimentary to their lunch.

Tania Areori works as the Regional Veterinary Officer for the NAQIA - PNG Biosecurity. Tania knew she wanted to be a vet from a young age. With limited veterinarian study opportunities in PNG, she applied for an Australia Awards scholarship to achieve her goal. In 2020, she graduated with a Bachelor of Veterinary Science (Honours) from Charles Sturt University Tania now encourages other aspiring vets to consider applying for an Australia Award. “The scholarship has basically allowed me to achieve my aspirations, and we need a lot of veterinarians in this country. Take up the opportunity Australia Awards provides and apply for the scholarship”. Source: Australia High Commissioner Papua New Guinea

The Philippines Number 1 Rice Farmer, Mr. Danilo Bolos whose record harvest of 17-metric tons per hectare which remains unequalled was one of the members of the delegation who arrived this morning. This team was the first potential rice investors from the Philippines who will visit potential rice zones in the country upon invitation by the Minister for International Trade and Investment, Richard Maru.   The team led by the former Department of Agriculture Secretary of the Philippines, Dr. Emmanuel Pinol was received at the airport by the Papua New Guinea (PNG) Ambassador to the Philippines, Ms. Betty Palaso and Acting Secretary for the Department of International Trade and Investment, Mrs. Jacinta Warakai Manua.   Dr. Pinol who opened a Rice Demonstration Farm in PNG in 2017 said he invited the ‘outstanding farmer’ Bolos to evaluate the viability of rice farming in the Central Province. Also on the team was Dr. Frisco Malabanan, the former Program Director for Rice Farming in the Philippines and now the Vice President of SL Agritech, the leading Filipino company in Hybrid Rice Seeds production. These experts with other technical members who are part of the delegation will visit Brown River and Gabadi in the Kairuku District tomorrow and Rigo on Thursday before returning to the Philippines on Friday.

An inter-government agency has been set up between the Attorney General’s Office, the Ministry of Health and the Ministry of Labour to discuss the way forward in terms of those workers that were laid off due to the “No Jab No Job” policy implemented by the previous government. This was highlighted by Attorney General Siromi Turaga when questioned by the media if the coalition Government will be re-looking at the cases of the workers who lost their job as a result of this policy. Turaga says the ultimate goal of this agency is to prepare a paper and present it to Cabinet for an endorsement of that policy to be reviewed. The AG says he has met with the Ministers, Permanent Secretaries and Senior Officers of the Ministry of Health and Labour to discuss this issue. He adds that once they present the paper to Cabinet and a decision is made the Prime Minister will announce the government’s position in that matter. Source:fijivillage.com