The Suva Magistrates Court has issued a bench warrant for the arrest of
coup leader George Speight for failing to appear in court to answer a
charge of dangerous driving. The arrest warrant was issued yesterday.
Speight attended the swearing in ceremony for the President and Vice
President today.
A fresh warrant is expected to be served later this week.
THE garment industry will face its end if trade bans and sanctions are
imposed again.
Mark Halabe of Mark One Apparel said he is not sure if there will be
any placed but if there is to be trade bans then "we can say goodbye
to the industry."
"It will be the final straw and it will certainly destroy the garment
industry," he said. "These don't help which we've worked hard to
build in 13 years.
"It'll be a pity to lose it all because there is nothing to replace it."
Ramesh Solanki of United Apparel (Fiji) Limited said if bans are
imposed "the customers will get nervous." "They (the customers)
will
leave Fiji for a source for garments.
"There will be no garment industry left. "If there will be more
destruction, there will be no more deliveries." With the first bans, the
industry suffered and Mr Solanki said they have been "stretching"
for
the past two months. "It is the ordinary people who will suffer. "We
have to together so that we can come to a solution to all this."
Fiji's Daily Post
THE Reserve Bank announced a drop in interest rates charged on funds
lent to commercial banks under the Export Finance Facility, yesterday.
Interest rates will fall from 15 percent to five percent according to
Reserve Bank governor Savenaca Narube.
"The Export Finance Facility is a scheme whereby the Reserve Bank
provides funds to commercial banks and the Fiji Development Bank
which can be lent to customers for export-related payments," Mr Narube
said.
He said the scheme was introduced in 1983 and is designed to assist the
export sector by ensuring the availability of credit at relatively low interest
rates.
Fiji's Daily Post
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