Economy

Bank sale concerns

Monday February 02, 2015

Some Westpac Cook Islands customers say they are considering cancelling their accounts, following last week’s announcement that the bank’s Cook Islands operations will be sold to Bank of South Pacific Limited.

A total of 10,176 visitors came to Cook Islands in December, creating an arrivals record for the month.

Big year ahead for finance

Saturday January 31, 2015

With a budget policy statement, new tax systems, new coin designs, and a development partners meeting in the pipeline it is fair to say the Ministry of Finance and Economic Management has a big year ahead.

Westpac to sell local operation

Thursday January 29, 2015

Westpac has entered into an agreement to sell its banking operations in the Cook Islands, Samoa, Solomon Islands, Vanuatu and Tonga to the Bank of South Pacific Limited (BSP) for A$125 million.  

From February 2 this year the Cook Islands High Commission in Wellington will no longer process documents related to the employment of citizens of the Philippines in the Cook Islands.  

Witholding tax explained

Tuesday January 20, 2015

Treasurer Andrew Haigh has moved to clarify the withholding tax system in the Cook Islands after a story in the Cook Islands Herald claimed withholding tax of 30 per cent would apply on interest earned on bank deposits in the Cook Islands.

Relief may be in sight for long-suffering Cook Islands motorists hit in the pocket by high fuel prices.

Product prices change weekly

Friday January 09, 2015

This week an annoyed smoke signaller wrote in about their frustrations at the pricing process of produce at CITC Supermarket and Foodland.

An influx of December visitors and families returning home has seen rental companies across the island running out of cars.

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