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She offered 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. Similarly, “Toea” refers to a valuable kind of shell used in commerce and traditional bride value ceremonies in the Motuan Coastal villages. Governor Genia expressed the Bank’s ongoing commitment to sustaining belief and confidence in bodily forex, at the equal time as international trends shift in the path of digital currencies and digital payments. “This exhibition supplies a singular opportunity to reflect and appreciate how far we have come and to consider how we will proceed to honour our heritage while embracing the longer term,” she stated. The exhibition was designed to take attendees on a journey via PNG’s history, showcasing photographs of uncommon artefacts, cash, and notes which have formed the country’s financial system. The launch was attended by distinguished visitors, companions, stakeholders, the workers and management of BPNG, and the media.

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The exhibition provided a possibility to discover the fascinating historical past of PNG forex and its unique place in the nation’s growth. Displaying cultural richness and variety, attendees have been reminded of the significance of forex as a mirrored image of PNG id, values, and traditions. The Assistant Governor of Corporate Affairs, Mr Ron Sikar, gave the opening speech and officially Business News declared the exhibition open on behalf of the Governor of BPNG, Elizabeth Genia, in her absence. “It is an honour to face earlier than you right now as we open the Kina and Toea Exhibition, a showcase of our nation’s wealthy and evolving economic historical past as part of the Bank’s 50th anniversary celebrations,” Governor Genia stated.

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Govt’s pausing of tasks and economic downturn have had a devastating impression. A construction boost and decrease interest rates could kickstart flagging exercise. Xi Jinping’s major fiscal stimulus package, which may have capitalised on the big bounce within the sharemarket, has up to now failed to materialise. As the weather cools down across Canada, so too is the cottage market, with real property consultants saying nows the time to purchase that cottage you’ve got had your eyes on. Mortgage rule adjustments allow simpler entry into the housing market with decrease monthly payments, but also an increased cost of repaying a mortgage. While the RRSP as a retirement vehicle has apparent benefits, they also come with pitfalls that may affect your long-term monetary well being.

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