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Showing posts from March 9, 2014

Political Round Up: Second Week in March

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By Crosbie Walsh
The non-political news of the week was the threat of Tropical Cyclone Lusi, that is now only a heavy sea swell warning; the ongoing type 3 dengue epidemic, a new strain to Fiji, that has infected between 10,000 -15,000 people, leaving eleven dead, and the appeal by low-lying Nausori for funding to fight the epidemic. 
The opening of yet another telecentre which gives schools and local communities access to free internet, this time at Kalabo, may be considered both political and non-political. Kalabo, just outside Suva, has served as both a staging ground and retreat by anti-Bainimarama elements in recent years.
The big political news of the week was the appointment of Ro Teimumu Kepa as the leader of the SODELPA and her lengthy 34,000 word inaugural address. Rather too long, I would have thought, for a news item, but SODELPA protested nonetheless that the Fiji Sun treated it as an advertisement that needed to be paid for. The 68-year old was unanimously elected as t…

Lockington's Everyday Fiji ... Life Goes On

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Communication

Its amazing how technology has evolved. From the humble land line to cordless phones to mobile phones that are almost as intelligent as humans. One of the better things is that costs of calls has come down so much. When you think about it, was the lone telephone company making a lot of money back then, if it was where has it all gone, now they are laying people off, but have spent a pretty penny in  sponsorship. But that's another story.

Mine is about communication. I live on the foothills of the Nausori Highlands and surrounded by cane fields and forests. With my humble mobile phone I can contact the world. Now that we have smart phones equipped with many gadgets and internet facilities the world has become smaller and I can get on Facebook at anytime, as long as I have funds, send and receive email what else do we need.

We can access information about what's happening in the world and learn things.

Just 4 am this morning I was "chatting" with a friend…

Ro Teimumu Kepa Spells Out Her Vision

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Her Inaugural Speech at the SODELPA Meeting

"I send my greetings to the people of Fiji and to the many supporters of SODELPA here and throughout the country. The people of Rewa Province send the delegates their best wishes and want you to know that they are with us. Let me express on behalf of SODELPA, a message of goodwill to our colleagues from the Fiji Labour Party and the National Federation Party. We have often been on opposite sides. But I am pleased to tell you that the crisis in our country has brought us together through the political movement, the United Front for a Democratic Fiji. The United Front is based on a shared determination to defeat the forces of those who stole the last elected government. The values and principles that bind the United Front are those of democracy, truth, rights, the rule of law and accountability to the people. "We will go to the elections as individual parties with our own manifestos, but co-operating where possible, especially in get…

Ro Teimumu Fear Mongering, says the PM

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Social Democratic Liberal Party (SODELPA) leader Ro Teimumu Kepa is offering ordinary Fijians nothing new, says Prime Minister Voreqe Bainimarama.

“SODELPA has learned nothing. Instead of providing the country with a vision of a new Fiji, it is dragging everyone backwards by employing the same old fear-mongering tactics of the old Fiji. Every political party has the right to develop the manifesto of their choosing, but I have to point out that so much of what this leader of SODELPA says is utter nonsense.”
Mr Bainimarama said: “Our nation’s new Constitution protects the rights of all Fijians, including unprecedented levels of protection of iTaukei land in the Bill of Rights. In fact, Ro Teimumu was part of a Government that eroded iTaukei land rights by allowing the conversion of native land to freehold title. The new Constitution for example gives landowners now a fair share of royalties from mining activity. There are other protections and benefits. In short, the truth is that my G…

Why Bank Failures Happen, and the NBF Saga

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By T.K. Jayaraman* “If you owe the bank $100, that’s your problem. If you owe the bank $100 million, that’s the bank’s problem!”
That famous quip from one of the world’s richest men ever, late Jean Paul Getty sums up the tragic story of any bank that failed. At the launching function of the new Home Finance Company Bank last week, Prime Minister reminded the nation of “the debacle of the National Bank of Fiji (NBF) in the 1990s, the first ever 100 per-cent Fijian-owned financial institution”.

NBF had a F$220 million problem. As it could not recover its loans, it failed.
More failures in 21st century
In 2009, many American banks failed.
The latest news from India is that many public sector banks have bad loans. The Kolkata based, United Bank of India (UBA), has an “acute Paul Getty problem”. The Reserve Bank of India got its Chairman and Managing Director sacked and the Board superceded, with severe restrictions on its lending.
The Indian government is ever ready to re-capitalize, sin…