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Shells, significantly the Kina and Toea, were not solely mediums of trade but additionally symbols of wealth, social status, and cultural practices. “Deeply embedded in our traditions and cultural practices, shell cash also represented social standing, and it was utilized in marriages, deaths, and other vital ceremonies and occasions,” Genia defined. The arrival of colonisers marked a turning level in the nation’s economic history, leading to the introduction of contemporary currencies on 19 April 1975. “These up to date currencies served as each financial instruments and nationwide emblems of our independence and unity as a nation,” Genia famous. She provided insights into the cultural significance of the Kina and Toea, explaining that the word “Kina” is present in both the Pidgin and Kuanua languages and describes the priceless pearl shell extensively traded in PNG’s Highlands and Coastal regions.

The Bank of Papua New Guinea officially launched the Kina and Toea Exhibition, a show celebrating the nation’s wealthy financial historical past and the 50th anniversary of Papua New Guinea’s currency. This occasion, held as a part of the Bank’s 50th anniversary celebrations, coincides with the upcoming 50th anniversary of PNG’s independence in 2025. The Kina and Toea Exhibition was launched on 29 August and continued from 30 August to Business News 6 September 2024 on the National Museum & Art Gallery in Port Moresby. The exhibition supplied an opportunity to discover the fascinating historical past of PNG forex and its unique place in the nation’s growth.

The recent rate of interest cut by the United States Federal Reserve presents opportunities and challenges for central… After the growth in enterprise capital funding, the local startup scene entered a “funding winter,” with 2023 being… This materials is in all probability not revealed, broadcast, rewritten, redistributed or derived from. Unless otherwise said, all content is copyrighted © 2024 The Express Tribune. The two worldwide tournaments the Philippine Squash Academy is hosting will be the main level of dialogue in the Philippine Sportswriters Association Forum on Tuesday, October 8, on the conference corridor of the Rizal Memorial Sports Complex.

For some residents of storm-prone Southeastern states, one of the best indicator of a hurricane’s severity could be discovered on the native Waffle House. Brazil’s Supreme Court suspended the social media platform following a monthslong dispute over free speech and misinformation. A lowered service has been operating since July but the regular schedule will resume after a pay dispute was resolved. Falling mortgage rates have helped to boost confidence amongst buyers, the lender says.

The Reserve Bank of India has kept its key rate of interest unchanged for the tenth consecutive time, its governor Shaktikanta Das introduced right now,whereas retaining India’s real GDP progress forecast at 7.2 per cent for the present financial 12 months. The Brazilian Supreme Court’s Justice Alexandre de Moraes on Tuesday approved the restoration of social media platform X´s service in Brazil, over a month after its nationwide shutdown, in accordance with a statement posted on the courtroom’s web site. Latest info and evaluation on the financial system, trade efficiency and regulation, business offers, company earnings, and markets within the Philippines and around the world.

Hon Parkop also counseled the collaborative spirit among stakeholders, saying, “We will name for partnerships to make sure the success of this heart,” adding that this initiative is just the beginning of a bigger journey to empower the local tourism sector. For additional details about the Tourism Business Incubation Center and upcoming applications, please contact the PNG Tourism Promotion Authority. Santos has announced the signing of a mid-term LNG provide contract with TotalEnergies Gas & Power Asia Private Limited . The contract entails the provision of 20 LNG cargoes, or as much as approximately 0.5 million tonnes of LNG every year, over a interval of three years plus one quarter. The contract will begin in Q4 2025, with LNG being provided from Santos’ global portfolio of world-class LNG assets on a delivered ex-ship basis.